Bank of India raises Rs.602 crores via AT-1 Bonds, BFSI News, ET BFSI
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Public lender, Bank of India (BOI) has raised Rs.602 crores via Basel III compliant Additional Tier 1 (AT-1) bonds on March 26, 2021 on private placement basis.
Bank of India in a regulatory filing on March 24, 2021(Wednesday) said the bank is issuing Basel III compliant tier 1 bonds for the base issue size of ₹ 250 crore and green shoe option of ₹ 500 crore. The total amount aggregates to ₹ 750 crore.
The bidding for the Basel III compliant additional tier I bonds started today and will end on March 30 (settlement date). The minimum lot size of the bond issue will be of ₹1 crore and in multiples of ₹1 crore thereafter, said the public sector lender.
Stock of Bank of India closed 0.29% up at ₹69.45 on the BSE.
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