Bank of Maharashtra to issue tier-II bonds, bankers say
Bank of Maharashtra plans to raise up to 10 billion rupees ($119.88 million), including a greenshoe of 7.5 billion rupees, through Basel III compliant tier 2 bonds maturing in 10 years, three people said on Friday. The state-run bank has invited bids from investors and bankers for the proposed bond issue on Tuesday.
The bonds have a call option at the end of five years. Here is the list of deals reported so far on June 28: Issuer Tenure Coupon (in %) Issue size (in Bidding Rating bln rupees)* date Bank of 10 years To be decided 2.5+7.5 July 2 AA+ Maharasht (Careedge, ra Icra) Shriram 5 years 9.15 7.05 June 27 AA+ (Crisil) Finance India 12 years 7.99 9 June 27 AAA (Crisil, Infradebt Icra) * Size includes base plus greenshoe for some issues ($1 = 83.4150 Indian rupees)
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