Corporation Bank, a Mangalore-based lender has decided to raise Rs 200 crore via tier-I bonds on a private placement basis. The face value of each bond is Rs 10 lakh and it will be unsecured, perpetual and non-convertible bonds. The coupon rate is 9.29% per annum. It is not offering put option, while a call option can be exercised after 10 years.
The bank has reported marginal rise of 1.15% in its net profit at Rs 405.71 crore for second ended September 30, 2012 as compared to Rs 401.11 crore for the same quarter in the previous year. Total income of the bank has increased by 16.96% at Rs 4070.45 crore for quarter under review as compared to Rs 3480.12 crore for the quarter ended September 30, 2011.
