Bank of Maharashtra’s Maiden $500 Million International Bond Issue Nearly 3 Times Oversubscribed
Pune, September 18, 2026: Bank of Maharashtra has successfully concluded its maiden international bond issuance, raising USD 500 million through a five-year US dollar-denominated bond, marking the bank’s entry into the international debt markets.
The issuance comprises five-year Senior Unsecured Notes, issued through the Bank’s IFSC Banking Unit under its USD 500 million Medium Term Note (MTN) Programme.
The bond issue received a strong response from international investors, with the order book reaching nearly three times the issue size. The substantial investor interest reflects the demand for the Bank’s debt paper in the international capital markets.
The notes have been assigned ratings of BBB (Stable) by S&P Global Ratings and BBB- (Stable) by Fitch Ratings.
The successful transaction provides Bank of Maharashtra with access to international debt investors and represents a significant step in expanding its funding avenues beyond the domestic market.
The maiden international bond issuance also marks an important milestone in the Bank’s ongoing growth and its journey of more than nine decades in the Indian banking sector.
The USD 500 million issuance through the Bank’s IFSC Banking Unit underscores its participation in the international financial ecosystem and provides an additional source of foreign-currency funding.
With the successful completion of the transaction, Bank of Maharashtra has established a presence in the international debt markets, broadening its investor base and adding another dimension to its capital-raising strategy.
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