On Thursday, the government-owned Bank of Maharashtra reported obtaining Rs 880 crore through Basel III-compliant Additional Tier 1 (AT1) bonds.
According to a statement from the bank, the offering, which had a base size of Rs 200 crore and a green shoe option worth Rs 680 crore, received more than four times as much interest. The money obtained from the AT1 bonds, it was stated, would help the bank’s business expansion. The eternal character of the AT1 instrument is indicated by its 8.74% coupon rate.
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