The Hindu Business Line : UTI Bank raises $60 m thru bonds

UTI Bank has raised $60 million through the issuance of Upper Tier-II bonds in the international market as a part of its Medium Term Notes programme for 2 billion. The bond with a 15-year maturity has a coupon rate of 7.125 per cent.

The issuer will have the call option as on June 28, 2017 and every coupon date thereafter, said a press release from the bank. The bank had earlier raised $150 million through the issuance of Upper Tier-II bonds in August 2006 and Hybrid Tier-I bonds of $46 million in November 2006. BNP Paribas, Singapore, was the sole arranger for this transaction, said the release.

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