Corporation Bank has informed that the Board of Directors of the company at its meeting held on November 06, 2014 approved the raising of Tier I Bonds in the nature of Perpetual Debt Instrument to the extent of Rs.1000 crore and Tier II Bonds to the extent of Rs. 500 crore, (both in one or more tranches) with green shoe option, as per Basel III requirement, subject to Regulatory compliances.
The above information is a part of company’s filings submitted to BSE.