Bank of Maharashtra (BoM) raised Basel III compliant Additional Tier-1 (AT1) bonds aggregating to ₹880 crore (including green shoe option of ₹680 crores) on Thursday at coupon rate of 8.74 per cent.
The Pune-headquartered public sector bank received subscription of more than 4 times against base issue size of ₹200 crore.
“The capital of ₹880 crore raised through the AT1 bonds will support the business growth of the bank. The AT1 instrument is perpetual in nature; with call option after 5 years,” the Bank said in a statement.
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