OBC's Rs 1,000 cr bond issue subscribed fully

Public sector lender Oriental Bank of Commerce today said the bonds issued by it have been fully subscribed, garnering Rs 1,000 crore.
"The Bank's issue of 8.34 per cent unsecured redeemable non-convertible Basel III compliant tier II bonds in the nature of debentures was fully subscribed to the extent of Rs 1,000 crore," OBC said in a filing on BSE.
Earlier this month, the bank had informed about the issue comprising of the bonds of Rs 10 lakh each aggregating up to Rs 1,000 crore.
The bonds have been rated AA+ by ICRA & CARE. The coupon rate of 8.34 per cent per annum has a tenor of 10 years.

The bank will add the proceeds in its tier II capital.
OBC stock was trading at Rs 136.40, down 1.98 per cent, on the BSE.