Oriental Bank of Commerce to sell Rs. 7.5 billion 9.2% 10-year bonds

By Tali Rackner

Norfolk, Va., Oct. 14 – Oriental Bank of Commerce informed the Bombay Stock Exchange that its issue of Rs. 7.5 billion of tier II bonds is slated to open on Oct. 14.

There is a Rs. 2.5 billion greenshoe.

The 10-year bonds carry a coupon of 9.2%.

The bonds will be available until Oct. 21, with settlement expected Oct. 27.

The state-run bank is located in New Delhi.

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