State-owned Allahabad Bank has raised Rs 300 crore by issuing Basel-III compliant additional tier I bonds. "The bank has raised additional tier I capital through private placement of additional tier I bonds aggregating up to Rs 300 crore (including green shoe option of Rs 100 crore)," the bank said in an exchange filing. The bonds bear coupon rate of 11.15 per cent per annum. The Kolkata-headquartered bank in August 2016 said it plans to raise up to Rs 1,000 crore through private placement of bonds. Stock of Allahabad Bank closed 1.81 per cent down at Rs 70.65 on BSE.
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