Central Bank Of India Raises Rs 1,500 Cr In Tier-II Bonds

Central Bank of India has come out with the issue of BASEL III Compliant Tier II Bonds on a private placement basis for raising capital of Rs 1,500 crore (Including a base size of Rs 500 crore and a Green Shoe option of Rs 1,000 Crore). 

The Bank received total bids of Rs 1,516 Crore in overwhelming response from investors and the issue was oversubscribed by 3 times against the base size. Further, the Bank has decided to accept the bid of Rs 1,500 crore.  

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