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Oriental Bank of Commerce’s issue of subordinated lower Tier II bonds of Rs 10 lakh each for cash at par aggregating Rs 1,000 crore is slated to open on November 21 and will close on November 27.
The public sector bank has an option to retain oversubscription of up to Rs 200 crore. In a notice to the BSE, the bank said the bonds, which have a 10-year tenure, have been rated ‘AA+’ by credit rating agencies ICRA and CARE and bear coupon rate of 8.93 per cent.
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