This bank raises Rs 487 crore through private placement of Tier II bon – InterviewSolution

InterviewSolution

1.	This bank raises Rs 487 crore through private placement of Tier II bonds.
Answer» Karur Vysya Bank announced that it has raised Rs 487 crore through Basel-III compliant bonds for funding its growth plans. The decision was taken in the Capital Raising Committee of the board. The committee allotted 48,700 BASEL-III compliant unsecured, redeemable, non-convertible tier-II bonds of Rs 1,00,000 each, totalling to Rs 487 crore and the capital raising was done on private placement basis. The instrument will be listed on NSE.

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