Syndicate Bank raises Rs 400 cr

Syndicate Bank today said it has raised Rs 400 crore by issuing bonds.

The bank has issued unsecured redeemable non-convertible Basel III compliant tier II bonds in the nature of debentures aggregating to Rs 400 crore, the public sector lender said in a filing to BSE.

"The issue is fully subscribed," it added.

Syndicate Bank's net profit for the third quarter ended December 2014 had fallen by 20 per cent to Rs 304.99 crore.

Syndicate Bank scrip closed at Rs 104.90 apiece on BSE, down 1.69 per cent from previous close.