Central Bank of India raised ₹1,500 crore via Basel III-Compliant Tier II Bonds on private placement basis at a coupon rate of 8.80 per cent. The public sector bank can exercise call option on these bonds, which have a tenor of 10 years, on or after 5 years from the date of allotment with prior approval of the RBI.
Against the overall issue size of ₹1,500 crore (including base size of ₹500 crore and green shoe option of ₹1,000 crore), the bank received total bids of ₹1,516 crore from investors, per the bank’s statement. Further, the bank decided to accept bid of ₹1,500 crore.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.