Khaitan & Co Advised Bank Of Maharashtra On ₹811 Cr Long-Term Infrastructure Bonds Issuance

Khaitan & Co has advised the Bank of Maharashtra on the issuance of non-convertible, taxable, listed, rated, redeemable

Update: 2024-07-30 19:00 GMT


Khaitan & Co Advised Bank Of Maharashtra On ₹811 Cr Long-Term Infrastructure Bonds Issuance

Khaitan & Co has advised the Bank of Maharashtra on the issuance of non-convertible, taxable, listed, rated, redeemable, unsecured, fully paid-up, long-term infrastructure bonds totaling up to INR 811 crores. The bonds were issued on a private placement basis.

The Bank of Maharashtra, a prominent public sector bank headquartered in Pune, boasts a substantial customer base of 30 million across the country, supported by its extensive network of 2,263 branches as of June 2023. With the largest branch network of any nationalized bank in Maharashtra, the Bank of Maharashtra is a key player in the Indian banking sector.

Bank of Maharashtra plans to raise up to Rs 3,000 crores ($358.27 million), including a greenshoe of Rs 2,500 crores, through its first issue of infrastructure bonds maturing in 10 years.

Earlier this month, the bank had raised Rs 1,000 crores via Basel III compliant tier II bonds maturing in 10 years at a coupon of 7.89 per cent.

Khaitan & Co's team, led by Partners Manisha Shroff and Riya Bhattacharjee, along with Senior Associates Anjuli Hora and Arjita Agarwal and Associate Nikunj Mehta, provided comprehensive legal counsel throughout the transaction.

Click to know more about Khaitan & Co

Tags:    

Similar News