Mumbai:
UCO Bank has come
out with an offer of tier-2 bonds, carrying an interest rate of
9.5 per cent, which are payable annually for 63 months. The offer
is to be made on a private placement basis.
UCO Bank expects to mop
up Rs 100 crore from this offer, which has a green-shoe option.
The offer that opened on 18 December
will close on 5 January 2002.
Earlier, in March this
year, the bank had mobilised more than Rs 150 crore through an
offer of tier-2 bonds, carrying 11 per cent interest with a tenure
of 63 months. As on date, the banks capital adequacy ratio
(CAR) is 9.47 per cent and with the proposed issue, the CAR will
go beyond 10 per cent.
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