Oriental Bank of Commerce to Issue Tier II Bonds

Oriental Bank of Commerce's Issue of Tier II Bonds of Rs. 10,00,000/- each for cash at par aggregating Rs. 750.00 crore with an option to retain over-subscription of upto Rs. 250.00 crore is slated to open on October 14, 2014 and will close on October 21, 2014 and deemed date of allotment shall be October 27, 2014. The Bonds have been rated "ICRA AA+ (Hyb)" & "CARE AA+" by ICRA & CARE respectively and bear coupon rate of 9.20% p.a. with a tenor of 120 months.

Shares of ORIENTAL BANK OF COMMERCE was last trading in BSE at Rs.233.45 as compared to the previous close of Rs. 224. The total number of shares traded during the day was 171227 in over 5676 trades.

The stock hit an intraday high of Rs. 234.4 and intraday low of 222.3. The net turnover during the day was Rs. 39576394.

Source : Equity Bulls

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