UTI Bank to raise USD 250 million

UTI Bank Ltd has announced that the Board of Directors of the Bank has passed a resolution approving the issue and allotment of Bonds / Notes having a nominal value of USD 1,00,000 each aggregating to a sum of USD 250 million to various international subscribers. The allotment or the settlement date of the Bonds / Notes will be January 29, 2007. These Bonds / Notes were issued at coupon rate of 3 month USD LIBOR + 40 bps (presently 5.76%, at a re-offer price or 99.809) and will be listed on the Singapore Exchange w.e.f. January 29, 2007.

Source : Equity Bulls

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