Central Bank of India Raises 1500CR in Tier –II Bonds

Central Bank of India has come out with issue of BASEL III Compliant Tier II Bonds on private placement basis for raising of capital of Rs 1500 crore (Including base size of Rs 500 Crore and Green Shoe option of Rs 1000 Crore).

The Central Bank of India received total bids of Rs 1516 Crore in overwhelming response from investors and the issue was oversubscribed by 3 times against the base size. Further, Bank has decided to accept bid of   Rs 1500 Crore.

The above capital raised will help Bank to maintain healthy CRAR and to funds its business growth.