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Bank of India raises Rs 602 crore by issuing Basel III compliant bonds

The bonds carry a coupon rate of 9.30 percent per annum, said the lender.

March 26, 2021 / 07:15 PM IST
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Public sector Bank of India on Friday said it has raised Rs 602 crore by issuing bonds.

Bank of India (BOI) has raised Rs 602 crore via Basel III compliant additional tier 1 (AT-1) bonds on March 26, 2021, on a private placement basis, it said in a release.

Earlier on Wednesday, the 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 percent per annum, said the lender.