India New Issue-Bank of Maharashtra to issue tier II bonds - bankers

Bank of Maharashtra

08/09/2023 11:52

MUMBAI, Sept 8 (Reuters) - India's Bank of Maharashtra  BMBK.NS  plans to raise at least
2.50 billion rupees ($30.13 million) through the sale of Basel III compliant tier II bonds
maturing in 10 years, three bankers said on Friday.
    The state-run lender will invite coupon and commitment bids for the issue in the next two
weeks, and the issue has a call option at end of five years, they said.


 Here is the list of deals reported so far on Sept. 8
             Issuer                                                            
                     Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                  bln rupees)*    date         
                                                                               
 Bank of             10-yr         To be decided  2.5 + 12.5      To be        AA+ (Acuite,
 Maharashtra                                                      decided      Infomerics)
             Aditya  7-yr          7.57           7.50            Sept. 8      AA+ (Crisil,
 Birla Fashion and                                                             India Ratings)
 Retail                                                                        
                                                                               
                     3-yr and 3    8.03           5               Sept. 8      AAA (Crisil,
 Mindspace Business  mnts                                                      Icra)
 Parks REIT                                                                    
                                                                               
             NNP     5-yr          Zero-coupon    5.51            Sept. 14     B (Infomerics)
 Construction                                                                  
                                                                               
                             2-yr           9.50           5 + 4  Sept. 11     AA (Crisil)
 Motilal Oswal                                                                 
 Finvest                                                                       
                                                                               
 
 * Size includes base plus greenshoe for some issues



($1 = 82.9700 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)
 ((Dharamraj.dhutia@tr.com))