Dena Bank raises Tier II capital by way of Lower Tier II Bonds

Dena Bank has raised Lower Tier II Bonds (Series XI) Capital funds to augment long term resources of the Bank and to meet its future Capital Adequacy Ratio requirements in the nature of promisory notes on Private Placement Basis for an amount of Rs 500 crore plus Green Shoe option to retain Rs 350 crore.

The bonds are carrying a coupon of 9.23% p.a. payable annually and are redeemable after 180 months from the deemed date of allotment with call option at the end of 120 months.

The issue opened on June 18, 2012 and closed on June 22, 2012 which was fully subscribed aggregating to Rs 850 crore. The Bank retained the subscribed amount.