Dena Bank raises Rs 125cr Tier I capital

Dena Bank has raised Rs 125 crore by way of hybrid bonds to augment long term resources and to meet its future capital adequacy requirements.

The bonds issued on a private placement basis carry a coupon of 10.05% payable annually and are perpetual in nature with a call option with the bank exerciable at the end of tenth year, a bank release said here today.

If the call option is not exercised, the coupon would increase by 50 basis points to 10.55%, it said.

The issue opened for subscription on December 20 and closed on the same day.