Dena Bank raises Rs 400 cr via Basel III compliant bonds

State-owned Dena Bank has raised Rs 400 crore by issuing Basel III compliant tier II bonds.
This is part of bank's plan to raise a total of Rs 1,100 crore through such debt instruments.
The allotment of 4,000 unsecured, subordinated, non-convertible Basel III compliant tier 2 bonds in the nature of debentures was done on September 20, the bank said in a regulatory filing.
The bank said the debentures with a face value of Rs 10 lakh each has helped mop up Rs 400 crore on a private placement basis.
The bonds are rated as AA- by CARE.
Earlier, the bank had informed that it will raise Rs 1,100 crore in one or more tranches in one or more instruments.

The stock closed 1.69 per cent at Rs 37.70 on BSE.