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OBC raises Rs 1,000 cr via Basel III-compliant bond allocation

Issue of Basel III-compliant additional tier 1 bonds (private placement) was opened on September 16, 2016, for one day

State-owned (OBC) on Monday said it has raised Rs 1,000 crore, which will be added as III-compliant capital.

The issue of III-compliant additional tier 1 (private placement) was opened on September 16, 2016, for one day.

"The issue was fully subscribed to the extent of Rs 1,000 crore and were allotted on September 16, 2016," the bank said in a regulatory filing.

The issue has been rated as A+ with stable outlook by Ratings and A+ (Hybrid) with negative outlook by Icra, it said.

Being implemented in phases since April 1, 2013, Indian are expected to fully comply with III standards by March 2019 to improve and strengthen their capital planning processes.

The norms are being implemented to soothe concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.

Shares of the bank closed 1.16 per cent higher at Rs 126.80 on BSE.

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Business Standard
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Business Standard

OBC raises Rs 1,000 cr via Basel III-compliant bond allocation

Issue of Basel III-compliant additional tier 1 bonds (private placement) was opened on September 16, 2016, for one day

Press Trust of India  |  New Delhi 

Oriental Bank of Commerce

State-owned (OBC) on Monday said it has raised Rs 1,000 crore, which will be added as III-compliant capital.

The issue of III-compliant additional tier 1 (private placement) was opened on September 16, 2016, for one day.

"The issue was fully subscribed to the extent of Rs 1,000 crore and were allotted on September 16, 2016," the bank said in a regulatory filing.

The issue has been rated as A+ with stable outlook by Ratings and A+ (Hybrid) with negative outlook by Icra, it said.

Being implemented in phases since April 1, 2013, Indian are expected to fully comply with III standards by March 2019 to improve and strengthen their capital planning processes.

The norms are being implemented to soothe concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.

Shares of the bank closed 1.16 per cent higher at Rs 126.80 on BSE.

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OBC raises Rs 1,000 cr via Basel III-compliant bond allocation

Issue of Basel III-compliant additional tier 1 bonds (private placement) was opened on September 16, 2016, for one day

Issue of Basel III-compliant additional tier 1 bonds (private placement) was opened on September 16, 2016, for one day
State-owned (OBC) on Monday said it has raised Rs 1,000 crore, which will be added as III-compliant capital.

The issue of III-compliant additional tier 1 (private placement) was opened on September 16, 2016, for one day.

"The issue was fully subscribed to the extent of Rs 1,000 crore and were allotted on September 16, 2016," the bank said in a regulatory filing.

The issue has been rated as A+ with stable outlook by Ratings and A+ (Hybrid) with negative outlook by Icra, it said.

Being implemented in phases since April 1, 2013, Indian are expected to fully comply with III standards by March 2019 to improve and strengthen their capital planning processes.

The norms are being implemented to soothe concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.

Shares of the bank closed 1.16 per cent higher at Rs 126.80 on BSE.
image
Business Standard
177 22

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