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Allahabad Bank raises Rs 300 cr via bonds

Press Trust of India  |  New Delhi 

State-owned has raised Rs 300 crore by issuing Basel-III compliant additional tier I bonds.

"The 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 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 Bank closed 1.81 per cent down at Rs 70.65 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 17 2017. 22:22 IST