Karur Vysya Bank to raise funds through bonds
6th Mar 2019

Karur Vysya Bank is planning to raise funds through issuance of BASEL III compliant Unsecured Non-convertible Tier II Bonds in the nature of Debenture of Rs 1 lakh each for a total approved borrowing programme of Rs 1,200 crore in one of more Tranches with present ‘Tranche A’ of Rs 300 crore with Green Shoe Option of upto Rs 300 crore aggregating upto Rs 600 crore.

The Capital Raising Committee of Board of Directors of the bank at its meeting held on March 05, 2019 approved the Information Memorandum in relation to issue.

Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.