Oriental Bank's Rs. 1,000-Crore Bonds Issue Open's Today Thursday June 17,2016

Oriental Bank of Commerce(OBC) Thursday June 17,2016 said the subscription to its proposed issue to raise Rs 1,000 crore capital through tier-II bonds opens on June 17,2016

OBC had informed about raising capital on private placement basis by issuing Basel-III compliant tier-II bonds up to Rs. 500 crore with an option to retain over-subscription of up to Rs. 500 crore

The issue shall be open from June 17, 2016 to June 22, 2016 and the deemed date of allotment shall be June 24, 2016

The Bonds have been rated AA by ICRA & CARE and bear coupon rate of 9.05 per cent per annum