India’s Oriental Bank allots Rs. 10 billion of 8.34% 10-year bonds

By Wendy Van Sickle

Columbus, Ohio, Oct. 28 – Oriental Bank of Commerce’s Rs. 10 billion issue of tier II 8.34% unsecured redeemable nonconvertible debentures was fully subscribed and allotted on Monday, according to a Bombay Stock Exchange notice.

The Basel III-compliant 10-year bonds have a face value of Rs. 1 million each.

The bonds have been rated AA+ by ICRA and CARE.

The state-run bank is located in New Delhi.

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