India New Issue-Bank of Maharashtra accepts bids for tier II bonds, bankers say

Bank of Maharashtra

02/07/2024 09:41

MUMBAI, July 2 (Reuters) - India's Bank of Maharashtra  BMBK.NS  has accepted bids worth
10 billion rupees ($119.8 million) through Basel III compliant tier II bonds maturing in 10
years, three merchant bankers said on Tuesday.
    The state-run bank will pay an annual coupon of 7.89% on this issue and had invited bids
from investors and bankers earlier in the day, they said. 
    The bonds have a call option at the end of five years.
    
 
  Here is the list of deals reported so far on July 2:
                                                                          
 Issuer         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                             bln rupees)*    date         
                                                                          
 Bank of        10 years      7.89           10              July 2       AA+ (Careedge,
 Maharashtra                                                              Icra)
 NaBFID             10 years  7.43                       50  July 2       AAA (Crisil,
                                                                          Icra)
 
*Size includes base plus greenshoe for some issues



($1 = 83.4820 Indian rupees)

 (Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Mrigank Dhaniwala)
 ((Dharamraj.dhutia@tr.com))