Dena Bank - Updates
Dena Bank has informed BSE that the Bank has raised Lower Tier II Bonds (Series IX) Capital funds to augment long term resources of the Bank and to meet its future Capital Adequacy Ratio requirements in the nature of Debentures on Private Placement Basis for an amount of Rs 100.00 crores plus Green shoe option. The Bonds are carrying a coupon of 9.25% p.a. payable annually and are redeemable after 122 months from the deemed date of allotment. CRISIL has assigned “AA-”(pronounced as “AA- with stable outlook) and FITCH Ratings has assigned ‘A+(ind) National Rating to the Lower Tier II Bonds program of the Bank. The issue was over subscribed by Rs 6 crore aggregating to Rs 106 crore. The Bank excised the Green shoe option and retained the over subscribed amount.
Tags: Dena Bank