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Mangalore, April 1

Corporation Bank has raised Rs 500 crore through Lower Tier-II bonds. In a statement to BSE on Tuesday, the bank said it has raised Lower Tier-II Bonds [Series (III) (2)] for Rs 500 crore and the same allotted on March 31 to the respective applicant in demat mode. On March 30, the bank had informed the stock exchange that it had proposed to raise Rs 400 crore Lower Tier-II bonds on private placement basis with a green-shoe option for Rs 100 crore. The 122-month bonds will pay coupon of 8.85 per cent annually. -Our Bureau

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