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India’s Oriental Bank plans up to Rs. 10 billion of 9.05% tier 2 bonds
By Susanna Moon
Chicago, June 16 – Oriental Bank of Commerce notified the Bombay Stock Exchange that it plans to issue up to Rs. 10 billion of 9.05% tier 2 bonds.
The placement will open from June 17 to June 22, with the allotment date of June 24, according to the notice.
As announced June 13, the company will issue Rs. 5 billion of the tier 2 capital through a private placement of Basel 3 compliant tier 2 bonds with an oversubscription option for up to another Rs. 5 billion.
The state-run bank is located in New Delhi.
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