Oriental Bank of Commerce to raise Rs 500 crore via bonds
Shares of the bank were trading 0.52 per cent lower at Rs 134.60 on BSE
 "Oriental Bank of Commerce to raise Rs 500 crore via bonds")
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.
"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.