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Thursday, October 30, 2014

Vijaya Bank raises Rs. 500 cr through bonds

Vijaya Bank has raised Tier II capital of Rs. 500 crore through a bond offering to fund its business growth.

In a statement, the bank said the capital was raised by issuing Unsecured Redeemable Non Convertible Basel III Compliant Tier II Bonds with a coupon rate of 9.15 per cent p.a. The issue was fully subscribed and allotment has been made on October 30, 2014, it added.

Vijaya Bank
scrip ended marginally higher at Rs. 47.25 on the BSE.

The Rs. 500 crore bond issue is in addition to the proposed equity offering of Rs. 600 crore that the bank is contemplating later this fiscal. The bank has already received an enabling resolution from its shareholders to raise additional equity capital of Rs. 600 crore from the markets.

Source : The Hindu


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