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Dena Bank raises 4B rupees via bond issuance

DenaBank issued 4 billion rupees of nonconvertible Basel III-compliantTier 2 bonds on a private placement basis.

The bank said Sept. 23 that it issued 4,000 bonds with aface value of 1 million rupees each Sept. 20.

In August, the bank's board approved the issuance of up to11 billion rupees of Basel III-compliant Tier 2 bonds in one or more tranches.

As of Sept. 23, US$1was equivalent to 66.66 Indian rupees.