Oriental Bank of Commerce plans to raise Rs 500 crore in Tier 1 Capital

Through private placement of Basel III compliance AT1 Bonds

Oriental Bank of Commerce announced that 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. The proposed Bonds Issue has been rated as 'A+' by CARE Ratings and 'A+ (Hyb.) with Negative Outlook' by ICRA.

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