Moneycontrol Bureau
Shares of Syndicate Bank gained more than 2 percent intraday Friday after the public sector lender successfully raised Rs 750 crore through Tier II bonds.
"The bank has issued unsecured redeemable non-convertible basel III compliant 10-year Tier II bonds in the nature of debentures (bonds) for inclusion in Tier II capital aggregating to Rs 750 crore," says the lender in its filing.
The issue, which fully subscribed, was opened for subscription during December 17-18, it adds. Face value of issue was Rs 10 lakh per bond with a coupon rate of 8.62 percent per annum.
At 12:53 hours IST, the scrip of Syndicate Bank was quoting at Rs 88.70, up Rs 1.75, or 2.01 percent on the BSE.Posted by Sunil Shankar Matkar
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