Oriental Bank of Commerce has informed 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 with an option to retain oversubscription of upto Rs 500 crore. The proposed Bonds Issue has been rated as A (Hyb.) with Negative Outlook by ICRA and A with Negative Outlook by CARE.
The above information is a part of company’s filings submitted to BSE.