Public-sector Bank ‘Oriental Bank Of Commerce’ will lift up Rs 500 crore on private placement by issuing 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," Oriental Bank Of Commerce said in a BSE filing.
The bonds has been issued under “A+” category” by CARE ratings and 'A+ (Hyb.) with Negative Outlook' by ICRA.
On BSE, the shares of Oriental Bank of Commerce were to regular change 0.52 per cent lower at Rs 134.60