![Bank of Maharashtra raises Rs 880 crore through bonds](http://media.assettype.com/psuwatch%2Fimport%2Fwp-content%2Fuploads%2F2022%2F12%2FBank-of-Maharashtra-tops-list-of-PSU-lenders-in-Q1-loan-deposit-growth-1.jpg?w=480&auto=format%2Ccompress&fit=max)
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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