Bank of Maharashtra likely to issue first infrastructure bonds to raise Rs 3,000 crore

India’s Bank of Maharashtra plans to raise up to Rs 3,000 crore ($358.27 million), including a greenshoe of Rs 2,500 crore, through its maiden issuance of 10-year infrastructure bonds, three bankers said.

The state bank on Thursday called for coupon and commitment bids for the issuance, it said.

Earlier this month, the bank raised Rs 1,000 crore through 10-year Basel III-compliant Tier II bonds with a coupon of 7.89 per cent.

Here is the list of deals reported so far as of July 30: Issuer Maturity Coupon (in percent) Issue Size (in Bid Rating billion rupees)* Date 10-Year Bank TBD 5+25 Aug 1 AA+ (ICRA, Maharashtra Careedge Ratings)