Bank of Maharashtra mobilises ₹710 crore via bonds

State-owned Bank of Maharashtra (BoM) on Wednesday said it has raised ₹710 crore from bonds to fund business growth.The fund raised via Basel III compliant Additional Tier 1 (AT1) bonds of ₹710 crore (including green shoe option of ₹610 crore) is at a coupon rate of 8.74 per cent, the bank said in a statement.The issue garnered overwhelming response from investors with subscription of 10 times against base issue size of ₹100 crore.The capital raised through the AT1 bonds will support the business growth of the bank.The AT1 instrument is perpetual in nature; with call option after 5 years.

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