India’s Karnataka Bank committee to mull Rs. 4 billion tier 2 bonds

By Sarah Lizee

Olympia, Wash., Nov. 15 – Karnataka Bank Ltd. informed the Bombay Stock Exchange that the capital augmentation committee of its board of directors will meet on Friday to consider an allotment of Rs. 4 billion of unsecured redeemable nonconvertible Basel 3 compliant lower tier 2 subordinated bonds.

On Thursday the committee approved bidders who will subscribe to the issue, according to the notice.

Karnataka is a bank with headquarters in Mangalore, India.

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