Bank of Maharashtra secures Rs 200 crore via bonds

Bank of Maharashtra on Monday said, “It has raised Rs 200.70 crore through private placement of Basel III compliant tier II bonds.”

In a filing with the exchange, the Bank said, “It has raised a capital of Rs 200.70 crore through private placement of Basel III compliant unsecured redeemable taxable subordinate tier II bonds.”

“The coupon on the bond was 7.75 percent. The face value bond was Rs 10 lakh each,” the filing added.