Bank of Maharashtra to Issue Upper Tier II bonds

Bank of Maharashtra has announced that the Bank has now decided to issue Upper Tier II Bonds to the extent of Rs 300 crore to augment the Bank's Capital Adequacy requirement at the coupon rate of 9.10% p.a. for a period of 15 years with a set-up coupon rate of 9.60% p.a. for the remaining 5 years if call option is not exercised at the end of 10th year from the Deemed date of Allotment. The issue opens on October 12, 2006; closes on October 13, 2006 and the deemed date of allotment is October 14, 2006.

Source : Equity Bulls

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