Issue of Debt

30 Mar 2007 15:20

UTI Bank Limited30 March 2007 ALLOTMENT OF UNSECURED REDEEMABLE NON CONVERTIBLE SUBORDINATED TIER IIDEBENTURES ON PRIVATE PLACEMENT BASIS We are pleased to inform that the Board of Directors of the Bank has passed aresolution approving Allotment of Unsecured Redeemable Non ConvertibleSubordinated Tier II Debentures to various investors on private placement basisas the Bank's Tier II capital aggregating to Rs. 250.90 crores (inclusive ofoversubscription of Rs. 200.90 crores). The Debentures are issued as per termsheet enclosed. The Debentures will be listed on The Bombay Stock Exchange (BSE) and TheNational Stock Exchange (NSE) in India. REVISED TERM SHEET Addendum to Shelf Information Memorandum Dt.: 14 March, 2007 Amount Rs. 50 crores with an option to retain oversubscription Face Value Rs. 10,00,000 (Rupees Ten Lakhs) per Debenture Issue price Rs.10,00,000 per Debenture (at par) Security Unsecured Redeemable Non Convertible Subordinated Tier II DebentureRating 'LAA+' by ICRA 'AA+(ind)' by FITCHCoupon Rate 10.10% p.a. Coupon Payment Annually Maturity 120 months from Deemed Date of Allotment Put and Call Option Nil Day Count basis Interest payable on the Debentures will be calculated on the basis of actual number of days elapsed in a year of 365 or 366 Days as the case may be Interest on Application Money Interest on application money will be same as the Coupon rate (subject to deduction of Tax at Source at the rate prevailing from time to time under the provisions of the Income Tax Act, 1961 or any other statutory modifications or re-enactment thereof) will be paid on application money to the applicants from the date of realisation but excluding the Deemed Date of Allotment. Listing The Debentures being offered shall be listed on Bombay Stock Exchange Limited (BSE) and National Stock Exchange of India Ltd. (NSE). Minimum Application Size 1 Debenture and in multiples of 1 Debenture thereafter Market Lot 1 and in multiples of 1 thereafter Terms of Subordination Pari passu among themselves and with other subordinated indebtedness of UTI Bank Ltd., and subordinate to the claims of all other creditors and depositors of UTI Bank Ltd., as regards repayment of principal and interest by the Issuer Debenture Trustees The Western India Trustee & Executor Co. Limited Registrar & Transfer Agents Karvy Computershare Pvt. Ltd. Issue Schedule: Issue Opening Date* March 15, 2007 Issue Closing Date * March 28, 2007 Deemed Date of* Allotment March 30, 2007 * The issuer shall have the right to change the issue timetable including theDeemed Date of Allotment at its sole discretion, without giving any reasons orprior notice. This information is provided by RNS The company news service from the London Stock Exchange