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Bank of Maharashtra Raises Rs 880 Crores Via AT1 Bonds Subscribed by more than 4 Times of base issue

By Agencies on Economic

Pune: Bank of Maharashtra, a premier public sector bank in the country has raised Basel III compliant Additional Tier 1 (AT1) bonds of Rs 880 crores (including green shoe option of Rs 680 crores) on Thursday at a coupon rate of 8.74 percent. The issue garnered an excellent response from investors with subscriptions of more than 4 times against a base issue size of Rs 200 crores.
The capital of Rs 880 crores raised through the AT1 bonds will support the business growth of the bank. The AT1 instrument is perpetual in nature; with a call option after 5 years.
The Bank has credit ratings of AA (Stable) for AT1 Bonds.

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