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Oriental Bank to open one-day issue of Rs. 10 billion of 8.34% bonds
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Oriental Bank of Commerce will open on Wednesday its one-day issue of Rs. 10 billion of tier II 8.34% bonds, according to a notice with the Bombay Stock Exchange.
The Basel III-compliant 10-year bonds will have a face value of Rs. 1 million each. Settlement is expected on Monday.
The bonds have been rated AA+ by ICRA and CARE.
The state-run bank is located in New Delhi.
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