Vijaya Bank raises Rs 500 cr from Tier I bonds

State-owned Vijaya Bank today said it has raised Rs 500 crore from Tier I bonds to meet Basel III requirement.

"In this regard it is further being informed that bank has raised Rs 500 crore of Tier I bonds at a coupon rate of 11.25 per cent per annum from Rural Electrification Corporation," Vijaya Bank said in a statement.