BoM likely to raise up to Rs 1,000 crore via tier-2 bonds

MUMBAI Bank of Maharashtra is likely to raise up to 1,000 crore worth of funds through the issuance of tier-2 bonds next week, strengthening its operational finances after having concluded an equity sale to select bulk investors two months ago, reports Bhaskar Dutta.

“They are looking at a base issue of 200 crore and a greenshoe option of 800 crore. The bidding could take place on August 9,” a source aware of the development said. The bonds are rated AA+ by rating agencies Acuite and Infomerics, the source said