Syndicate Bank has cut base rate by 30 bps to 9.7% from effective from today.On Tuesday, RBI has cut the repo rate by 50 basis points to 6.75%
In another development Syndicate Bank has said in a BSE filing that it has raised Rs 1,000 crore by issuing tier-II bonds through private placement. The bank has finalised the issue of unsecured redeemable non-convertible Basel-III complaint tier-II bonds in the nature of debentures aggregating to Rs 1,000 crore. The bonds carry a coupon rate of 8.58 per cent per annum. The issue was opened on September 24 and closed on September 28. The bonds will mature on September 28, 2025. But it did not disclose how it intends to use the amount raised.
In another development Syndicate Bank has said in a BSE filing that it has raised Rs 1,000 crore by issuing tier-II bonds through private placement. The bank has finalised the issue of unsecured redeemable non-convertible Basel-III complaint tier-II bonds in the nature of debentures aggregating to Rs 1,000 crore. The bonds carry a coupon rate of 8.58 per cent per annum. The issue was opened on September 24 and closed on September 28. The bonds will mature on September 28, 2025. But it did not disclose how it intends to use the amount raised.
