State-owned Bank of Maharashtra (BoM) on Thursday said it has raised Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds. The issue, including green shoe option of Rs 680 crore, was subscribed more than four times against base size of Rs 200 crore, the bank said in a statement.
The fund raised through the AT1 bonds will support the business growth of the bank, it added.
The AT1 instrument with a coupon rate of 8.74 per cent is perpetual in nature.
The fund raised through the AT1 bonds will support the business growth of the bank, it added.
The AT1 instrument with a coupon rate of 8.74 per cent is perpetual in nature.
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