Bengaluru: Syndicate Bank on Monday said it has raised Rs 930 crore in the form of unsecured non-convertible (UNC).
The capital was inclusive of the Greenshoe option, which allows benefactors to sell investors more shares than formerly planned by the issuer, the bank said.
The Unsecured Non-convertible (Basel III Compliant) Perpetual Debt instruments were eligible for inclusion as Additional Tier 1 capital at a coupon of 11.25 per cent, it said in a statement here.
The credit ratings of the Bonds were assigned 'IND AA' by India Ratings and Research and 'CARE AA-' by CARE Ratings. The issue received enthusiastic feedback and was oversubscribed by 1.95 times, the statement said, adding that it was opened and closed on July 14, 2016.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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