Corporation Bank to raise Rs 200 cr via tier-I bonds

Corporation Bank plans to raise Rs 200 crore through tier-I bonds on a private placement basis, the bank said in an exchange filing late last evening. The bonds will be unsecured, perpetual and non-convertible. The face value of each bond is Rs 10 lakh. The coupon rate is 9.29 per cent per annum. There is no put option. A call option can be exercised after 10 years. The issue opens on Dec 27 and closes on Dec 28.