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Corporation Bank to issue unsecured non-convertible debentures

02 Jan 2015 Evaluate

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.

Corp. Bank-Amalgamat Share Price

22.60 0.00 (0.00%)
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Peers
Company Name CMP
State Bank Of India 1013.80
PNB 111.00
Bank Of Baroda 243.20
Canara Bank 124.75
Union Bank Of India 171.05
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