UTI Bank - Raising of Hybrid Tier I Bonds/Notes under the Medium Term Note Programme

UTI Bank Ltd has announced that the Board of Directors of the Bank has passed a resolution approving allotment of Bonds / Notes having a nominal value of USD 1,00,000 each and thereafter in integral multiples of USD 1000, aggregating to a sum of USD 46 million to various international subscribers as the Bank's Hybrid Tier 1 Bonds / Notes. The allotment or the settlement date of the Bonds / Notes will be November 15, 2006. These Bonds / Notes were issued at coupon rate of 7.167 and will be listed on the Singapore Exchange w.e.f. November 15, 2006.

Source : Equity Bulls

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