Issue of Debt

20 Feb 2007 11:24

UTI Bank Limited20 February 2007 RAISING OF TIER II CAPITAL ON PRIVATE PLACEMENT BASIS We inform that the Board of Directors of the Bank has at its meeting held todayapproved borrowing an amount of upto Rs. 970 crores in one or more tranches, byissuance of Upper Tier II Debentures and/or Subordinated Tier II Debentures,subject to the proviso that the latter would not exceed Rs. 303 crores. TheseDebentures will be issued on terms and conditions to be approved by the Chairmanand Managing Director and subject to guidelines issued by SEBI, RBI and anyother Regulatory Authority. This information is provided by RNS The company news service from the London Stock Exchange