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Karnataka Bank to raise up to 8B rupees in bonds

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Karnataka Bank to raise up to 8B rupees in bonds

Karnataka Bank Ltd. plans to raise up to 8 billion Indian rupees by issuing Tier 2 subordinated bonds.

The bank said Sept. 5 that it would issue the bonds in one or more tranches in a private placement.

As of Sept. 5, US$1 was equivalent to 71.63 Indian rupees.