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Bank of Maharashtra raises Rs 200 crore under tier II bond programme

The coupon offered on the bond was 7.75 per cent

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Last week, Brickwork Ratings had reaffirmed AA rating of the lender's tier II bonds worth Rs 1,000 crore. The outlook was also reaffirmed as stable | Illustration: Ajay Mohanty

Press Trust of India

2 min read Last Updated : Dec 14 2020 | 7:42 PM IST

State-run Bank of Maharashtra on Monday said it has raised over Rs 200 crore through private placement of Basel III-compliant tier II bonds.

The fund raise is part of the lender's Rs 1,000 crore tier II bond programme.

"The bank has successfully raised a capital of Rs 200.70 crore through private placement of Basel III compliant tier II bonds, the lender said in a filing to exchanges.

The coupon offered on the bond was 7.75 per cent.

Last week, Brickwork Ratings had reaffirmed AA rating of the lender's tier II bonds worth Rs 1,000 crore. The outlook was also reaffirmed as stable.

The domestic rating

Topics : Bank of Maharashtra Fundraising Basel III norms

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