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Corporation Bank raises Rs 500cr through bonds

Corporation Bank raises Rs 500cr through bonds

Friday, March 17, 2017, 9:36 AM

State owned Corporation Bank issued Basel III compliant bonds to raise Rs 500 crore. Bank will offer coupon rate of 10.28% per annum on bonds. Bonds have been rated stable by India Ratings and negative by Crisil. These bonds are in the nature of perpetual bonds, meaning there is no maturity period. They are not redeemable and can be treated as equity, not debt.
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