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 Money & Banking - Corporate Bonds
Corporation Bank bond issue

Mangalore, March 19

Corporation Bank on Tuesday raised tier-II capital bonds for Rs 200 crore. The bank informed the Bombay Stock Exchange that it has issued the second tranche of the issue and raised tier-II capital bonds for Rs 200 crore. The instrument is private placement of unsecured, redeemable non-convertible, non-cumulative subordinated bonds in the nature of promissory notes. The coupon rate is 9.30 per cent per annum fixed, and interest payment is annual. - Our Bureau

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