Syndicate Bank raises Additional Tier I Capital

Aggregating Rs 930 crore

Syndicate Bank has issued Bonds in the form of Unsecured, Non-convertible (Basel III compliant) Perpetual Debt instruments in the nature of Debentures for inclusion in Additional Tier I Capital.

The issue attracted investors bids aggregating Rs 1810 crore (1.95 times. Subsequently, the Bank has decided to exercise the Green Shoe Option and retain the total amount of Rs 930 crore (including green shoe option) and allotted on pro-rata basis.

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