Bank of Maharashtra likely to issue maiden infra bonds to raise Rs 3,000 cr

India's Bank of Maharashtra plans to raise up to Rs 3,000 cr ($358.27 million), including a greenshoe of Rs 2,500 cr, through its first issue of infrastructure bonds maturing in 10 years, three bankers said.

The state-run bank has invited coupon and commitment bids for the issue on Thursday, they said.

Earlier this month, the bank had raised Rs 1,000 cr via Basel III compliant tier II bonds maturing in 10 years at a coupon of 7.89 per cent.

Here is the list of deals reported so far on July 30: Issuer Tenure Coupon (in per cent) Issue size (in Bidding Rating bln rupees)* date Bank of 10 years To be decided 5+25 Aug 1 AA+ (ICRA, Maharashtra Careedge Ratings)

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)