Oriental Bank of Commerce (OBC) 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 up to 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.
Recently, the bank had revised the Base Rate from 9.50% per annum to 9.45% per annum with effect from October 03, 2017.
