BoM to raise Rs 300 cr through bonds

Public sector lender Bank of Maharashtra will raise up to Rs 300 crore through a bonds issue during October 12-13 to meet the capital adequacy requirement. The Upper Tier II bonds with a maturity period of 15 years will be issued at a coupon rate of 9.10 per cent per annum, the bank informed Bombay Stock Exchange. The bank will pay 9.6 per cent interest per annum from 10th year onward if the call option is not exercised