India's Corporation Bank to issue Rs. 15 billion in tier I, II bonds

By Tali Rackner

Norfolk, Va., Nov. 7 – Corporation Bank informed the Bombay Stock Exchange that its board of directors met on Thursday and approved raising Rs. 10 billon of tier I bonds in perpetual debt instruments and Rs. 5 billion of tier II bonds.

There is a greenshoe option, as per Basel III requirement.

The bonds will each be issued in one or more tranches.

The government-controlled investment and retail bank is based in Pandeshwar, India.

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