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Oriental Bank intends to raise funds through Basel-III bonds

31 Oct 2017 Evaluate

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.


Peers
Company Name CMP
State Bank Of India 1080.50
PNB 143.00
Bank Of Baroda 273.55
Canara Bank 131.00
Union Bank Of India 203.00
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