Pune: Bank of Maharashtra Raises Rs 290 Crores Via AT1 Bonds. Bank of Maharashtra, a premier public sector bank in the country has raised Basel III compliant Additional Tier 1 (AT1) bonds of Rs 290 crores (including green shoe option of Rs 40 crores) on Wednesday at coupon rate of 8.75 per cent.
The issue garnered overwhelming response from investors with bids of Rs 1055 crores mreceived against a base issue size of Rs 250 crores, which is an indicator of the trust the investors place on the Bank.
Rs 290 crores capital 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 has credit ratings of AA (Stable) for AT1 Bonds from Acuite & Infomerics credit agencies.
