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Bank of Maharashtra (BoM) raised Basel III compliant Additional Tier-1 (AT-1) bonds of ₹710 crore (including green shoe option of ₹610 crore) on Wednesday at coupon rate of 8.74 per cent.
The Pune-headquartered public sector bank, in a statement, said its AT-1 issue, which is perpetual in nature (with call option after 5 years), garnered subscription of 10 times against base issue size of ₹100 crore.
“The capital of ₹710 crore raised through the AT-1 bonds will support the business growth of the bank…The bank has credit ratings of AA (Stable) for AT-1 bonds,” BoM said.
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