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Tuesday, September 29, 2015

Syndicate Bank bonds worth Rs. 1,000 cr fully subscribed

Public sector Syndicate Bank today said the issue of Rs. 1,000 crore tier-II Basel compliant non-convertible bonds has been fully subscribed.

“The bank has finalised the issue of unsecured redeemable non-convertible Basel III compliant tier-II bonds in the nature of debentures aggregating to Rs. 1,000 crore. The issue is fully subscribed,” it said in a BSE filing.

The issue, which opened on September 24 and closed on September 28, carries a coupon rate of 8.58 per cent per annum.

The maturity date of the bonds is as on September 28, 2025.

The debentures have been issued via private placement. However, the bank did not elaborate about the usage of the proceeds.

Shares of the bank closed at Rs. 83.30 on BSE, up 0.66 per cent from the previous close.

Source : Thehindubusinessline


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