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Khaitan & Co Advises Bank of Maharashtra on INR 1000 Crore Basel III Tier 2 Bonds Issuance

Khaitan & Co advised Bank of Maharashtra on issuing Basel III compliant Tier 2 bonds worth INR 1000 crores, with a base issue size of INR 250 crores and a green shoe option of up to INR 750 crores

Bank of Maharashtra has received total bids of Rs.1793 crore for its issue of Basel III Compliant Tier 2 Bonds on private placement basis. Further, Bank has accepted bid of Rs.1000 crore (including Base issue of Rs.250 crore and Green shoe option retained upto Rs.750 crore) at coupon rate of 7.89%.

The deal was led by Manisha Shroff, Riya Bhattacharjee, Mohit Nad, Akshansh Sharma and Chhavishree Somani.

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