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Allahabad Bank raises Rs 1500 crore via bonds

28 Dec 2019 Evaluate

Allahabad Bank has raised Tier 2 Capital Fund through private placement of Basel III compliant Tier 2 Bonds aggregating to Rs 1500 crore at a coupon of 9.53% p.a. payable annually. The said Tier 2 Bonds Series IV has a tenor of 10 years with call option after five years.

Allahabad Bank is a nationalized bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

Peers
Company Name CMP
State Bank Of India 985.20
PNB 117.60
Bank Of Baroda 234.80
Canara Bank 124.85
Union Bank Of India 177.65
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