Corporation Bank has invited bids for its proposal to issue unsecured non-convertible (Basel-III compliant) additional tier-1 perpetual bonds in the nature of debentures.
The bank has proposed to mobilise Rs 500 crore with a Green Shoe option to retain over-subscription up to Rs 500 crore, aggregating to Rs 1,000 crore through issue of unsecured, non-convertible (Basel-III compliant) additional tier-I perpetual bonds 2014-15 (Series I) on private placement basis.
The bond issue has been rated as ‘AA-/Stable’ by CRISIL, and ‘AA-/Stable’ by India Ratings and Research.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank.
| Company Name | CMP |
|---|---|
| SBI | 1035.05 |
| PNB | 108.80 |
| Bank Of Baroda | 281.00 |
| Canara Bank | 133.80 |
| Union Bank Of India | 175.85 |
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