By Reshmi Basu
New York, March 30 - UTI Bank Ltd. informed the Bombay Stock Exchange that it raised Rs. 2.5 billion through a private offering of subordinated tier II unsecured redeemable subordinated debentures.
The 10-year debentures priced at par to yield 10.1%.
The securities will be issued on March 30.
The private bank's registered office is in Ahmedabad, India, and its central office is located in Mumbai, India.
| Issuer: | UTI Bank Ltd.
|
| Issue: | Subordinated tier II unsecured redeemable subordinated debentures
|
| Amount: | Rs. 2.5 billion
|
| Maturity: | 2017
|
| Coupon: | 10.1%
|
| Issue price: | Par
|
| Yield: | 10.1%
|
| Settlement date: | March 30
|
| Distribution: | Private offering
|
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