Oriental Bank of Commerce plans to raise Tier 1 capital through private placement of Basel III Compliant Additional Tier 1 Bonds aggregating Rs 500 crore.
The bonds of the public sector bank will have a face value of Rs 10 lakh each at par.
The proposed bonds Issue has been rated as 'A+' by CARE Ratings and 'A+ (Hyb.) with Negative Outlook' by ICRA.
At about 10.20 am, Oriental Bank shares were trading a tad down at Rs 135.25 on the BSE.