)
Manipal-based public sector lender Syndicate Bank has raised Rs 750 crore by issuing unsecured redeemable non-convertible Basel-III compliant Tier-II bonds in the nature of debentures. The coupon rate is fixed at 8.95% payable annually.
The issue, which opened on November 26, 2014, closed for subscription on Monday. The bonds will mature on December 2, 2024, the Bank said in a filing to BSE. The issue is fully subscribed.
For the second quarter ended September 2014, Syndicate Bank's capital adequacy ratio under Basel-III declined to 10.42% from 11.58% in the same quarter last year.
The Bank's scrip was trading at Rs 132.65 per share, showing a gain of 2.91% over the previous close.
