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Business EconomyPosted at: Jul 15 2016 3:48PM


Syndicate Bank raises Rs 930 cr via Basel-III compliant bonds

Mumbai, Jul 15 (UNI) Public sector lender.Syndicate Bank today said
it has raised Rs 930 crore by issuing Basel-III compliant bonds.
''In respect of an invitation pertaining to series III, potential
investors have placed bids for Rs 1,800 crore (1.95 times) and the
bank decided to exercise the green-shoe option and retained the
total amount of Rs 930 crore allotted on pro rate basis,'' Bank
said in a filing with BSE.
The face value of one bond is Rs 10 lakhs and have a fixed rate of
11.25 percent per annum payable annually
Syndicate Bank had invited bids for an issue size of Rs 500 crore
with a green-shoe option of Rs 430 crore limiting the aggregate
issue size to Rs 930 crore. The issue closed on July 14.
UNI JS NV AW1541
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Tags: #Syndicate Bank raises Rs 930 cr via Basel-III compliant bonds
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