BANKS
Bank of India raises Rs 602 cr via bonds
Bank of India raises Rs 602 cr via Basel III compliant additional tier 1 bonds on 26 March, on private placement basis.
Bank of India raises Rs 602 cr via Basel III compliant additional tier 1 bonds on 26 March, on private placement basis.
Bank of India (BOI) said it has raised Rs 602 crore by issuing bonds.
The amount has been raised via Basel III compliant additional tier 1 (AT-1) bonds on 26 March, on private placement basis.
Earlier on Wednesday, the public sector bank had informed that it plans to raise up to Rs 750 crore under this issue, with a base issue size of Rs 250 crore and a greenshoe option of Rs 500 crore.
The bonds carry a coupon rate of 9.30% per annum. The settlement and allotment of bonds are to take place on 30 March, the bank said.
BOI stock closed Friday at Rs 69.70 per share, up 0.58%, on the BSE.
