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Last Updated : Jun 19, 2019 12:03 PM IST | Source: PTI

Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

"The board of the bank has approved the issuance of 1,000 unsecured, listed, redeemable Basel III compliant tier II bonds having a face value of Rs 10 lakh each, with an option to retain oversubscription up to Rs 400 crore aggregating to Rs 500 crore (debentures), on a private placement basis," Federal Bank said in a BSE filing.

 
 
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Private sector lender Federal Bank on Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

"The board of the bank has approved the issuance of 1,000 unsecured, listed, redeemable Basel III compliant tier II bonds having a face value of Rs 10 lakh each, with an option to retain oversubscription up to Rs 400 crore aggregating to Rs 500 crore (debentures), on a private placement basis," Federal Bank said in a BSE filing.

Shares of Federal Bank were trading 0.05 percent lower at Rs 104.85 apiece on BSE.

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First Published on Jun 19, 2019 11:59 am
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