corporation bank
Corporation Bank proposes to raise funds to the tune of Rs 1 billion via issue of unsecured innovative non-convertible Tier - I Bonds Series -I(4) on private placement basis.The one day bond issue, opens on Wednesday, August 26.
These bonds which will be in the nature of promissory notes have a face value of Rs 1 million a bond and carry a coupon rate of 9.10% p.a and a step-up coupon rate of 0.50% p.a for further life if call option is not exercised.
Shares of the bank gained Rs 11.7, or 3.18%, to close at Rs 379.50. The total volume of shares traded was 9,982 at the BSE (Friday).
Corporation Bank proposes to raise funds to the tune of Rs 1 billion via issue of unsecured innovative non-convertible Tier - I Bonds Series -I(4) on private placement basis.The one day bond issue, opens on Wednesday, August 26.
These bonds which will be in the nature of promissory notes have a face value of Rs 1 million a bond and carry a coupon rate of 9.10% p.a and a step-up coupon rate of 0.50% p.a for further life if call option is not exercised.
Shares of the bank gained Rs 11.7, or 3.18%, to close at Rs 379.50. The total volume of shares traded was 9,982 at the BSE (Friday).
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