Financial Daily
from THE HINDU group of publications
Monday, September 03, 2001
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Financial Daily from THE HINDU group of publications Monday, September 03, 2001 |
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LVB to raise Tier-II Bonds in pvt placement
Our Bureau
COIMBATORE, Sept. 2
IN a bid to support accelerated asset expansion as also enhance its capital adequacy ratio (CAR), the Karur-based Lakshmi Vilas Bank (LVB) is raising Tier-II Bonds in private placement.
According to a release, these bonds have a tenor of 67 months and carry a coupon of 10.4 per cent payable monthly.
The size of the issue is Rs 20 crore with greenshoe option of Rs 20 crore. RR Financial Consultants Ltd, Bangalore, is the sole arranger for the issue.
The bank maintained a 10.21 per cent CAR at the end of the last fiscal.
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