India's Oriental Bank of Commerce to raise 12 bln rupees via bonds

Last Updated: Sat, Nov 17, 2012 19:10 hrs

MUMBAI, Nov 16 (Reuters) - Oriental Bank of Commerce Ltd is planning to raise 12 billion rupees ($219.02 million) via lower tier II bonds at 8.93 percent coupon, three sources with direct knowledge of the deal said on Friday.

The LT2 bonds are rated AA+ by ICRA/CARE and have a maturity of 10 years, the sources. ($1 = 54.7900 Indian rupees) (Reporting by Archana Narayanan; Editing by Sunil Nair)

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