Syndicate Bank raises USD 500.00 MIO through MTN issue

Syndicate Bank has raised USD 500.00 Mio, the second and final tranche under the bank's MTN programme of USD 1000 Mio.

The USD 500.00 Mio senior notes was raised for funding of overseas operation of bank's London Branch.

The issue date of the security is October 12, 2012 and maturity date is April 12, 2018. The tenor of the note is 5.5 years.

The interest rate if 4.125% fixed per annum payable semi-annually in arrear.

The Syndicate Bank stock was trading at Rs.123.45, down by Rs.0.45 or 0.36%. The stock hit an intraday high of Rs.124.80 and low of Rs.122.20.

The total traded quantity was 2.98 lakhs compared to 2 week average of 1.55 lakhs.

Source : Equity Bulls

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