By Toni Weeks
San Diego, Dec. 31 - India's Syndicate Bank informed the Bombay Stock Exchange that it completed a Rs. 10 billion issue of 9% unsecured nonconvertible subordinated lower tier II bonds on Friday, according to a notice.
The tier II capital raise was fully subscribed.
Interest is payable annually.
The commercial bank is based in Manipal, India.
| Issuer: | Syndicate Bank
|
| Amount: | Rs. 10 billion
|
| Issue: | Unsecured nonconvertible subordinated lower tier II bonds
|
| Coupon: | 9%, payable annually
|
| Settlement date: | Dec. 28
|
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