India's Dena Bank raises Rs. 1.25 billion from perpetual bonds sale

By Jennifer Chiou

New York, May 27 - Dena Bank informed the Bombay Stock Exchange that it raised Rs. 1.25 billion through the issue of tier I perpetual bonds.

The bonds have a coupon of 9% and were issued on Tuesday.

The Mumbai, India-based bank said that it was looking to augment its long-term resources and aiming to meet future capital adequacy ratio requirements.

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