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Oriental Bank of Commerce to raise Tier I capital

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Capital Market
Last Updated : Sep 02 2016 | 12:01 AM IST

Through private placement of AT-1 Baonds

Oriental Bank of Commerce announced that 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. 250 crore with an option to retain oversubscription of upto Rs. 750 crore. The proposed Bonds Issue has been rated as 'A+ with Stable Outlook' by India Ratings and 'A+ (Hyb.) with Negative Outlook' by ICRA.

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First Published: Sep 01 2016 | 9:22 AM IST

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