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January 22, 2001 		Feedback  
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Dena Bank NCDs mop up Rs 750 million

State-owned Dena Bank, closed its issue of unsecured non-convertible debentures after raising the target of Rs 750 million on Friday, a senior bank official told Reuters.

The issue, which opened on January 18, attracted total subscriptions for Rs 910 million, he said. The bonds carry a coupon rate pegged at 11.75 per cent payable annually and have an 87-month maturity.

The arrangers to the issue were SBI Capital Markets, DSP Merrill Lynch Ltd, ICICI Securities and Finance Company Ltd and IDBI Capital Market Services.

The bank's capital adequacy ratio was 11.68 per cent on March 31, 2000. The funds raised from this issue will help the bank maintain its capital adequacy ratio at around the same level.

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