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Bank of Maharashtra will float bonds worth up to Rs 1,000 crore on December 12, market sources said. It includes Rs 250 crore of base issue and Rs 750 crore as greenshoe.
The bank will issue Tier-II bonds maturing in 10 years with a call option after five years.
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The Tier-II bonds are a type of debt instrument banks issue to raise capital for their operations. Tier-II bonds form a part of the bank’s Tier-II capital and are subordinate to Tier-I capital.
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