State-owned Dena Bank has raised Rs 400 crore by issuing Basel III compliant tier II bonds.
This is part of bank's plan to raise a total of Rs 1,100 crore through such debt instruments.
The allotment of 4,000 unsecured, subordinated, non-convertible Basel III compliant tier 2 bonds in the nature of debentures was done on September 20, the bank said in a regulatory filing.
The bank said the debentures with a face value of Rs 10 lakh each has helped mop up Rs 400 crore on a private placement basis.
The bonds are rated as AA- by CARE.
Earlier, the bank had informed that it will raise Rs 1,100 crore in one or more tranches in one or more instruments.
The stock closed 1.69 per cent at Rs 37.70 on BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
