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Thursday, December 27, 2012

Corporation Bank to raise Rs 200 cr via tier-I bonds

Corporation Bank plans to raise Rs 200 crore through tier-I bonds on a private placement basis, the bank said in an exchange filing late last evening.  The bonds will be unsecured, perpetual and non-convertible.  The face value of each bond is Rs 10 lakh.  The coupon rate is 9.29 per cent per annum.  There is no put option.  A call option can be exercised after 10 years.  The issue opens on Dec 27 and closes on Dec 28.


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