UCO Bank to raise up to Rs 1,000 crore by issuing bonds

The bank's board will consider the proposal for raising tier I capital in the form of additional tier I bonds in one or more tranches aggregating to Rs 1,000 crore

PTI

December 28, 2022 / 17:01 IST

State-owned UCO Bank on Wednesday said it is planning to raise up to Rs 1,000 crore by issuing debt securities.

The bank's board will consider the proposal for raising tier I capital in the form of additional tier I bonds in one or more tranches aggregating to Rs 1,000 crore, UCO Bank said in a regulatory filing.

The board is scheduled to meet on January 3, 2023, to take up the fundraising proposal.

UCO Bank stock closed at Rs 31.45 on BSE, down 2.93 percent.

PTI

first published: Dec 28, 2022 05:01 pm

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