Bank of Maharashtra to Issue Upper Tier II Bonds for Rs.200 crores

Bank of Maharashtra has announced that the Bank has decided to issue Bonds of Rs 200 crores under Series II at the coupon rate of 9.90% p.a. for a period of 15 years with a step-up coupon rate of 10.40% 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 February 27, 2007; closes on March 19, 2007 and the deemed date of allotment is March 21, 2007.

Source : Equity Bulls

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