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Bank of Maharashtra to raise Rs 1,000 cr via bonds

Press Trust of India  |  New Delhi 

State-owned of today said it proposes to raise Rs 1,000 crore through bonds to fund business expansion.

The is proposing to raise funds by issue of Basel III compliant AT1 bonds of Rs 250 crore with green shoe option of Rs 750 crore aggregating to Rs 1,000 crore on private placement basis, of said in a statement.



Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI.

AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by public sector banks.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Bank of Maharashtra to raise Rs 1,000 cr via bonds

State-owned Bank of Maharashtra today said it proposes to raise Rs 1,000 crore through bonds to fund business expansion. The bank is proposing to raise funds by issue of Basel III compliant AT1 bonds of Rs 250 crore with green shoe option of Rs 750 crore aggregating to Rs 1,000 crore on private placement basis, Bank of Maharashtra said in a statement. Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI. AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by public sector banks. State-owned of today said it proposes to raise Rs 1,000 crore through bonds to fund business expansion.

The is proposing to raise funds by issue of Basel III compliant AT1 bonds of Rs 250 crore with green shoe option of Rs 750 crore aggregating to Rs 1,000 crore on private placement basis, of said in a statement.

Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI.

AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by public sector banks.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Bank of Maharashtra to raise Rs 1,000 cr via bonds

State-owned of today said it proposes to raise Rs 1,000 crore through bonds to fund business expansion.

The is proposing to raise funds by issue of Basel III compliant AT1 bonds of Rs 250 crore with green shoe option of Rs 750 crore aggregating to Rs 1,000 crore on private placement basis, of said in a statement.

Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI.

AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by public sector banks.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22