India’s Syndicate Bank OKs up to Rs. 35.5 billion tier I, tier II bonds

By Tali Rackner

Norfolk, Va., May 19 – Syndicate Bank informed the Bombay Stock Exchange that its board of directors gave approval to issue up to Rs. 18 billion of Basel III compliant additional tier I bonds and up to Rs. 17.5 billion of tier II bonds.

The timing and formats of the issues will be later decided, according to a Tuesday bank notice.

The commercial bank is based in Manipal, India.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.