Oriental Bank of Commerce’s (OBC) Bond issue worth Rs 500 crore is slated to open on January 23, 2015 and will close on February 06, 2015 and the deemed date of allotment shall be February 10, 2015. The bonds have been rated ‘AA-‘ (Hyb) & ‘AA-‘ by ICRA & CARE respectively and bear coupon rate of 9.48% per annum.
The company had earlier on January 09, 2015 was planning to raise capital through Basel III Compliant Perpetual Debt Instruments of Rs 10 lakh each aggregating to Rs 500 crore.
Oriental Bank of Commerce is a Government of India undertaking whose business activities includes monetary intermediation of commercial banks, saving banks and discount houses.
