Syndicate Bank raises Rs 200 cr

Manipal-headquartered public sector lender, Syndicate Bank, today said that it has raised Rs 200 crore through issue of unsecured non-convertible sub-ordinated debt (eligible for lower Tier-II capital).

The issue opened and closed on June 15, 2009.

The bond issue was priced at 8.49 per cent per annum payable annually, the bank informed BSE today. 

Shares of Syndicate Bank were trading at Rs 72.45, down 5.60 per cent in the late afternoon trade on the BSE.