style="margin: 0px; text-align: justify">Dena Bank has informed that the 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 5bn plus Green Shoe option to retain Rs. 3.5bn.
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 and closed on June 22, which was fully subscribed aggregating to Rs. 8.5bn. The Bank retained the subscribed amount.
change the amount in the headline to Rs 8.5bn