Central Bank of India to raise up to Rs 500 crore via issuing Basel III compliant bonds
The bank said that the fund will be raised by issuing non-convertible redeemable unsecured Basel III compliant tier 2 bonds in the nature of promissory notes.
The bank said that the fund will be raised by issuing non-convertible redeemable unsecured Basel III compliant tier 2 bonds in the nature of promissory notes.
Under call option, the bond issuer can call back the bonds before the maturity date by paying back the principal amount to investors.
The interest on the bonds will be paid annually for a tenor of 10 years and call option after 5 years.
Under the globally accepted Basel-III capital regulations, banks need to improve and strengthen their capital planning processes.
