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Vijaya Bank raises Rs 325 crore via bonds

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Press Trust of India New Delhi
State-owned Vijaya Bank today raised Rs 325 crore through private placement of bonds to fund business growth.

"The bank has raised Basel III compliant Additional Tier I bonds of Rs 325 crore through private placement at coupon rate of 10.49 per cent," Vijaya Bank said in a regulatory filing to stock exchanges.

Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI.

AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by banks.

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First Published: Jan 17 2017 | 8:22 PM IST

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