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Last Updated : Jan 17, 2017 08:30 PM IST | Source: PTI

Vijaya Bank raises Rs 325 crore via bonds

State-owned Vijaya Bank today raised Rs 325 crore through private placement of bonds to fund business growth.

 
 
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State-owned Vijaya Bank today raised Rs 325 crore through private placement of bonds to fund business growth.


"The bank has raised Basel III compliant Additional Tier I bonds of Rs 325 crore through private placement at coupon rate of 10.49 percent," Vijaya Bank said in a regulatory filing to stock exchanges.


Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI.

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AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by banks.



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First Published on Jan 17, 2017 08:22 pm
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