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Karur Vysya Bank raises Rs 487 crore
Business

Karur Vysya Bank raises Rs 487 crore

Agency News

Mumbai, Mar 13 : Private Sector Lender Karur Vysya Bank Ltd said that Capital Raising Committee of the Board of in its meeting held on March 12, 2019, has allotted 48,700 BASEL III compliant unsecured, redeemable, non-convertible Tier II Bonds in the nature of Debenture of Rs 1,00,000 each aggregating to

Rs 487 Crore (Rupees Four Hundred and Eighty Seven Crore only), on private placement basis.

The coupon / interest offered is 11.95 pc pa and maturity date is June 12, 2019, Bank said in a filing with BSE.

The Instrument will be listed on NSE Limited.

The instrument has been assigned "IND A+ / Stable" by India Ratings & Research Pvt Ltd and "[ICRA] A(hyb) Stable" by ICRA Ltd. (UNI)