By Devika Patel
Knoxville, Tenn., June 25 - Syndicate Bank informed the Bombay Stock Exchange that it issued Rs. 1.94 billion in 8.9% unsecured non-convertible perpetual tier 1 bonds.
The bonds are callable after 10 years.
The offering opened on Monday and closed on Thursday. The settlement date will be Monday.
Syndicate is a Manipal, India-based state-run bank.
| Issuer: | Syndicate Bank
|
| Issue: | Unsecured non-convertible tier 1 bonds
|
| Amount: | Rs. 1.94 billion
|
| Maturity: | Perpetual
|
| Coupon: | 8.9%
|
| Price: | Par
|
| Yield: | 8.9%
|
| Call option: | After 10 years
|
| Settlement date: | June 29
|
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