Bank of Maharashtra raises Rs 880 crore through bonds 
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Bank of Maharashtra raises Rs 880 cr through bonds

Bank of Maharashtra has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds on Thursday which was oversubscribed

PSU Watch Bureau

New Delhi: State-owned Bank of Maharashtra (BoM) on Thursday said that it has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds. "The issue, including green shoe option of Rs 680 crore, was subscribed more than four times against base size of Rs 200 crore," the bank said in a statement.

"The fund raised through the AT1 bonds will support the business growth of the bank," it added.

"The AT1 instrument with a coupon rate of 8.74 percent is perpetual in nature," it said.

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