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Allahabad Bank raises Rs 300 cr AT-1 capital

Allahabad Bank raises Rs 300 cr AT-1 capital

Saturday, March 18, 2017, 11:02 AM

Allahabad Bank said it has raised Rs 300 crore additional tier-one capital through a private placement at an annual coupon rate of 11.15%. The bank had earlier informed that its board approved raising of additional tier-one capital aggregating Rs 1,000 crore through private placement. The bank has on date successfully raised Additional Tier 1 (AT-1) capital of bank through a private placement of AT-1 perpetual bonds.
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