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.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.