AK Capital Updates on private placement

With reference to the earlier announcement dated December 18, 2006 regarding private placement of Rs 200 crore Unsecured Redeemable Non-Convertible Subordinated Tier-II Bonds for The Federal Bank Ltd, AK Capital Services Ltd has clarified that the issue was successfully syndicated by AK Capital as Arranger alongwith other Lead Arranger, well within the specified time schedule despite volatile market conditions due to announcement of hike in CRR by RBI on December 08, 2006 by 50 basis points.

Source : Equity Bulls

Keywords