Dena Bank approves raising of Basel III Compliant Additional Tier 1 Bonds

Dena Bank had earlier announced about the Board approval, to raise AT1 capital upto an amount of Rs. 1,500 cr in one or more tranche, in one or more instruments.

Dena Bank have on January 29, 2016 raised Rs. 1,000 crores of Unsecured Subordinated, Perpetual, Basel III compliant Additional Tier 1, Non-Convertible Taxable Bonds (Series IV) ("Bonds") in the nature of Debentures of face value of Rs. 10 lakhs each ("bonds") at par aggregating Rs. 1,000 crores.

Shares of DENA BANK was last trading in BSE at Rs.35.6 as compared to the previous close of Rs. 36.05. The total number of shares traded during the day was 38841 in over 380 trades.

The stock hit an intraday high of Rs. 36.45 and intraday low of 35.1. The net turnover during the day was Rs. 1392578.

Source : Equity Bulls

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