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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.

Peers
Company Name CMP
State Bank Of India 954.00
PNB 109.90
Bank Of Baroda 231.75
Canara Bank 118.50
Union Bank Of India 168.00
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