Centurion Bank of Punjab to raise long term debt of Rs.700 crores

Centurion Bank of Punjab Ltd has announced that the Board of Directors of the Bank at its meeting held on March 23, 2007, has approved the following:

1. Raising up to Rs 700 crores as long term debt capital in one or more tranches, whether through a single placement or multiple placements from time to time until March 31, 2008 through issuance of Tier II debt instruments or innovative perpetual debt instruments in domestic and / or overseas markets.

2. Extension of the period for completion of the Scheme of Amalgamation of Lord Krishna Bank Ltd with the Bank to July 31, 2007.

Source : Equity Bulls

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