Oriental Bank of Commerce to raise Rs 500 crore via bonds

By: | Published: September 29, 2016 12:43 PM

Public-sector lender Oriental Bank of Commerce will raise Rs 500 crore on private placement by issuing bonds.

OBC ptiShares of Oriental Bank of Commerce were trading 0.52 per cent lower at Rs 134.60 on BSE. (Source: PTI)

Public-sector lender Oriental Bank of Commerce will raise Rs 500 crore on private placement by issuing bonds.

“The bank intends to raise Tier 1 capital through private placement of Basel III compliant additional tier 1 bonds of Rs 10,00,000 each at par aggregating to Rs 500 crore,” Oriental Bank of Commerce said in a BSE filing.

The proposed bonds issue has been rated as ‘A+’ by CARE ratings and ‘A+ (Hyb.) with Negative Outlook’ by ICRA.

Shares of Oriental Bank of Commerce were trading 0.52 per cent lower at Rs 134.60 on BSE.

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