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Oriental Bank of Commerce to sell Rs. 12 billion 8.93% 10-year bonds
By Toni Weeks
San Diego, Nov. 20 - Oriental Bank of Commerce informed the Bombay Stock Exchange that its issue of Rs. 12 billion of unsecured lower tier II redeemable nonconvertible bonds will be available for purchase on Nov. 21.
There is a Rs. 2 billion greenshoe.
The 10-year bonds carry a coupon of 8.93%.
The bonds will be available until Nov. 27, with settlement expected Nov. 30.
The bank is issuing the bonds for the purpose of raising funds, according to a previous notice.
The state-run bank is located in New Delhi.
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