Oriental Bank of Commerce to raise Rs 500 crore via issuance of bonds

The bank intends to raise Tier 1 capital through private placement of Basel III compliant additional tier 1 bonds of Rs 10,00,000 each at par aggregating to Rs 500 crore

PTI September 29, 2016 12:22:20 IST
Oriental Bank of Commerce to raise Rs 500 crore via issuance of bonds

New Delhi: Public-sector lender Oriental Bank of Commerce (OBC) will raise Rs 500 crore on private placement by issuing bonds.

Oriental Bank of Commerce to raise Rs 500 crore via issuance of bonds

AFP

"The bank intends to raise Tier 1 capital through private placement of Basel III compliant additional tier 1 bonds of Rs 10,00,000 each at par aggregating to Rs 500 crore," Oriental Bank of Commerce said in a BSE filing.

The proposed bonds issue has been rated as 'A+' by CARE ratings and 'A+ (Hyb.) with Negative Outlook' by ICRA.

Shares of Oriental Bank of Commerce were trading 0.52 percent lower at Rs 134.60 on BSE.

Updated Date:

also read

Market roundup: Sensex ends 17 points lower, Nifty at 17,362; check top gainers and losers
India

Market roundup: Sensex ends 17 points lower, Nifty at 17,362; check top gainers and losers

The top BSE gainers were HDFC, Bharti Airtel, IndusInd Bank, ITC and Ultracem Co while the top NSE gainers include Bharati Airtel, HDFC, GRASIM, IndusInd Bank and ITC

Market Roundup: Sensex finishes 166 points up, Nifty ends at 17,377; today's top winners and losers
Business

Market Roundup: Sensex finishes 166 points up, Nifty ends at 17,377; today's top winners and losers

The Sensex rose 0.29 percent to end the day at 58,296.91, while, Nifty 50 ended the day in green with a growth of 0.31 percent or 54.20 points

With telemedicine, access to proper healthcare will no longer be a problem for the average Indian citizen
India

With telemedicine, access to proper healthcare will no longer be a problem for the average Indian citizen

54 percent of patients think telemedicine is not reliabile, 30 percent aren't comfortable with technology and data privacy is an area of concern along with regulatory approval for LEO-based internet access.