Allahabad Bank issues Rs. 300 crores AT1 perpetual bonds

The Board of Directors of Allahabad Bank had approved raising of BASEL III compliant Additional Tier 1 Perpetual Bonds aggregating up to Rs.1000.00 crore through Private Placement.

The Bank has on March 17, 2017 successfully raised additional Tier 1 (AT 1) capital of bank through private placement of AT1 Perpetual Bonds aggregating to Rs. 300 crores (including green shoe option of Rs. 100 crores) at an annual coupon of 11.15% p.a., discovered through electronic bidding mechanism of NSE (NSE EBP).

Shares of ALLAHABAD BANK was last trading in BSE at Rs.70.65 as compared to the previous close of Rs. 71.95. The total number of shares traded during the day was 165188 in over 752 trades.

The stock hit an intraday high of Rs. 72 and intraday low of 70.25. The net turnover during the day was Rs. 11712507.

Source : Equity Bulls

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