Bank of Maharashtra's first-ever overseas bond issuance of $500 mn gets 3 times subscription
Issuance comprises five-year US dollar-denominated Senior Unsecured Notes, issued through Bank of Maharashtra’s IFSC banking unit under its $500 million medium-term note programme
Public sector lender Bank of Maharashtra has successfully concluded its initial overseas bond issuance of $500 million, marking its debut in international debt markets. The five-year maturity bond, issued in a single tranche, received an extraordinary response from global investors, with the order book reaching nearly three times the size of the issuance.
This development signifies the bank's entry into the international debt markets and underscores the confidence of the international investor community in the bank's creditworthiness. The issuance, in the form of five-year US dollar-denominated Senior Unsecured Notes, was made through the bank's IFSC banking unit under its $500 million medium-term note programme.
This milestone, achieved by the institution with a history of over 90 years, highlights another significant achievement in the bank's financial journey.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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