Published on 3/6/2020 in the Prospect News Emerging Markets Daily.
New Issue: India’s Bank of Maharashtra allots Rs. 2 billion 8.7% bonds due 2030
By Sarah Lizee
Olympia, Wash., March 6 – Bank of Maharashtra informed the Bombay Stock Exchange that it allotted Rs. 2 billion of 8.7% Basel 3 compliant tier 2 subordinated redeemable bonds due March 6, 2030 via private placement.
The issue carries a Rs. 4 billion greenshoe.
The Pune, India-based issuer is one of the largest banks in western India.
| Issuer: | Bank of Maharashtra
|
| Issue: | Basel 3 compliant tier 2 subordinated redeemable bonds
|
| Amount: | Rs. 2 billion
|
| Greenshoe: | Rs. 4 billion
|
| Maturity: | March 6, 2030
|
| Coupon: | 8.7%
|
| Allotment date: | March 3
|
| Distribution: | Private placement
|
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