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Federal Bank to raise up to Rs 500 crore through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis. "The board of the bank has approved the issuance of 1,000 unsecured, listed, redeemable Basel III compliant tier II bonds having a face value of Rs 10 lakh each, with an option to retain oversubscription up to Rs 400 crore aggregating to Rs 500 crore (debentures), on a private placement bRead More – Source

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