Allahabad Bank to issue Upper Tier II Bonds (Series II) of Rs 500.00 crore

Allahabad Bank has announced that the Bank is planning to come out with Upper Tier II Bonds (Series II) amounting to Rs. 500.00 crore shortly with a coupon rate 8.58% p.a for first 10 years and step up coupon rate of 9.08% p.a for last 5 years.

The stock closed the day at Rs.139.50, up by Rs.6.95 or 5.24%. The stock hit an intraday high of Rs.141.10 and low of Rs.129.50.

The total traded quantity was 375498 compared to 2 week average of 337104.

Source : Equity Bulls

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