Bank of Maharashtra said it has raised Basel III compliant Additional Tier 1 (AT1) bonds of ₹880 crore (including green shoe option of ₹680 crore) on Thursday at coupon rate of 8.74%
“The issue garnered excellent response from investors with subscription of more than four times against base issue size of ₹200 crore,” the public sector bank said in a statement.
The capital of ₹880 crore raised through the AT1 bonds will support the business growth of the bank, it added.
The AT1 instrument is perpetual in nature; with call option after 5 years.
