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Oriental Bank of Commerce raises Rs 1,025 crore tier-II capital

28 Nov 2012 Evaluate

Oriental Bank of Commerce (OBC) has raised Rs 1,025 crore of capital through lower tier-II bonds. The bank aims to use these funds for its business growth. These bonds carry a coupon of 8.93 per cent a year and have tenure of 10 years.

The bank is planning to mop up Rs 1,000 crore through the recent bond offering. There was also a green-shoe option beyond the Rs 1,000 crore. Including the green shoe option the bank has got Rs 1,025 crore through this issue.

Oriental Bank-Amalga Share Price

45.65 0.00 (0.00%)
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