New Issue: Bank of Maharashtra sells Rs. 3 billion in tier I, tier II bonds

By Devika Patel

Knoxville, Tenn., Oct. 6 - Bank of Maharashtra informed the Bombay Stock Exchange that it sold Rs. 3 billion in bonds on Sept. 29.

The bank sold Rs. 1 billion in 8.95% series V upper tier II bonds, with a maturity of 180 months. It sold Rs. 1.3 billion in 8.74% series IX upper tier II bonds with a 115-month maturity and Rs. 700 million in 9.25% series II tier I perpetual bonds.

Bank of Maharastra is a Pune, India-based bank.

Issuer:	Bank of Maharashtra
Issue:	Series V upper tier II bonds, series IX upper tier II bonds, series II tier I perpetual bonds
Amount:	Rs. 3 billion
Warrants:	No
Settlement date:	Sept. 29
Series V
Amount:	Rs. 1 billion
Maturity:	180 months
Coupon:	8.95%
Price:	Par of Rs. 1 million
Yield:	8.95%
Series IX
Amount:	Rs. 1.3 billion
Maturity:	115 months
Coupon:	8.74%
Price:	Par of Rs. 1 million
Yield:	8.74%
Series II
Amount:	700 million
Maturity:	Perpetual
Coupon:	9.25%
Price:	Par of Rs. 1 million
Yield:	9.25%

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