Karnataka Bank Closes Tier-II bonds issue for Rs.75 Crores

Karnataka Bank Ltd has announced that the issue of Unsecured Redeemable Non-Convertible Subordinated (Tier-II) Bonds (Series I) in the nature of Promissory Notes / Debentures of Rs 10 Lakh each for cash at par aggregating Rs 75 crores (with a option to retain over subscription upto Rs 75 crores) has been closed for subscription on June 30, 2007. At the closure of the issue an amount of Rs 120.50 crores has been received towards above bonds. These bonds have been allotted on June 30, 2007.

Source : Equity Bulls

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