State owned Corporation Bank has issued Basel III compliant bonds to raise Rs 500 crore. The Bank has issued Basel III compliant additional tier-I bonds of Rs 500 crore on private placement basis. The Bank will offer a coupon rate of 10.28 percent per annum on the bonds.
The bonds have been rated stable by India Ratings and negative by Crisil. These bonds are in the nature of perpetual bonds, meaning there is no maturity period. They are not redeemable and can be treated as equity, not debt.
| Company Name | CMP |
|---|---|
| SBI | 1107.60 |
| PNB | 113.75 |
| Canara Bank | 142.70 |
| Bank Of Baroda | 280.85 |
| Union Bank Of India | 189.05 |
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