Federal Bank to elevate as much as Rs. 500 crore

Federal Bank to elevate as much as Rs. 500 crore

by admin- Wednesday, June 19th, 2019 03:43:55 PM

Federal Bank plans to raise up to Rs. 500 crore by using issuing Basel III-compliant bonds on private placement foundation.

The bank’s board has approved problem of one,000 unsecured, indexed, redeemable Basel-III compliant tier-II bonds with a face cost of Rs. 10 lakh every. The difficulty has an choice to retain oversubscription up to Rs. Four hundred crore, taking the total to Rs. 500 crore (debentures), on a non-public placement basis.

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