Issue of Debt

1 Jun 2009 08:34

RAISING OF TIER I & II CAPITAL ON PRIVATE PLACEMENT BASIS

We inform that the Board of Directors of the Bank has at its meeting held today approved borrowing/raising funds to the extent of Rs. 3,000 crores in FY 2009-10 by issue of Debt instruments to the extent indicated below in one or more tranches as per the structure and within the limits permitted by RBI and other regulatory authorities from eligible investors: 

(i) Rs. 500 Crores or equivalent amount in Indian/foreign currency by issue of debt instruments in domestic and/or overseas market, eligible for inclusion in Tier I capital.

(ii) Rs. 2,500 Crores or equivalent amount in Indian/foreign currency by issue of debt instruments in domestic and/or overseas market, eligible for inclusion in Tier II capital.

The above instruments will be listed at NSE/BSE/or any other Stock Exchange, if required.