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Oriental Bank of Commerce prices Rs. 5 billion of nonconvertible debt
By Tali Rackner
Norfolk, Va., Feb. 6 – Oriental Bank of Commerce informed the Bombay Stock Exchange that it received orders for the full Rs. 5 billion of 9.48% unsecured nonconvertible Basel III compliant perpetual debt instruments in the offering that opened on Jan. 23 and closed on Friday.
The bonds were offered at Rs. 1 million each for cash at par.
Settlement is expected on Feb. 10.
The state-run bank is located in New Delhi.
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