Bank of Maharashtra raises Rs 200 crore under tier II bond programme

Bank of Maharashtra on Monday said it has raised over Rs 200 crore through private placement of Basel III-compliant tier II bonds. The fund raise is part of the lender's Rs 1,000 crore tier II bond programme."The bank has successfully raised a capital of Rs 200.70 crore through private placement of Basel III compliant tier II bonds, the lender said in a filing to exchanges.The coupon offered on the bond was 7.75 per cent.Last week, Brickwork Ratings had reaffirmed AA rating of the lender's tier II bonds worth Rs 1,000 crore. The outlook was also reaffirmed as stable. The domestic rating agency had also assigned AA- rating to Bank of Maharashtra's Rs 1,000 crore of Basel III compliant additional tier I bonds with a stable outlook