Date:23/10/2008 URL: http://www.thehindu.com/2008/10/23/stories/2008102356261800.htm

Business - Briefly

ING Vysya Bank to raise Tier-1 capital

BANGALORE: ING Vysya Bank intends to raise Tier-1 capital in the form of innovative perpetual debt instrument in foreign currency that will be subscribed entirely by ING Bank of theNetherlands. The total issue size will be about Rs. 95 crore and will be drawn down on October 22, says a release. The issue is part of the bank’s regular capital raising programme and the proceeds will be used to finance its organic growth. — Corporate Reporter