UTI Bank hybrid issue mops up Rs.214 crore

UTI Bank has raised Rs.214 crore through a hybrid Tier-I issuance in the domestic market. It has offered a coupon of 10.05% on its Tier-I bond issue, with a size of Rs.214 crore. So far, UTI Bank has raised $150m through upper Tier-II issuances in the over- seas market. In the next couple of months, it may look at raising another Rs.200 crore through the upper Tier-I route from overseas markets. Post issue, the capital adequacy ratio of the bank is likely to raise to over 11%.