Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

"The board of the bank has approved the issuance of 1,000 unsecured, listed, redeemable Basel III compliant tier II bonds having a face value of Rs 10 lakh each, with an option to retain oversubscription up to Rs 400 crore aggregating to Rs 500 crore (debentures), on a private placement basis," Federal Bank said in a BSE filing.

from Moneycontrol Business News http://bit.ly/2Y0iWBE