UCO Bank to raise Rs 1,400 cr from bonds

UCO Bank today said it will raise Rs 1,400 crore from debt in the next three months.

"We plan to raise Rs 700 crore from tier-1 bonds and remaining Rs 700 crore from upper tier-2 bonds by March end," UCO Bank Chairman and Managing Director S K Goel told reporters here.

The fund raised will increase the capital adequacy ratio from 11.62% in December to 12%, he said.