How much money did Bank of India raise through its recent bond issuance?

Bank of India successfully raised Rs 10,000 crore through its recent long-term bond issuance.

What was the subscription level for Bank of India's Rs 10,000 crore bond issue?

The bond issue was significantly oversubscribed, receiving bids of Rs 15,305 crore, which is 3.06 times the base issue size.

What is the coupon rate for Bank of India's new long-term bonds?

The cut-off coupon rate accepted by Bank of India for the Rs 10,000 crore bond issue is 7.23% per annum.

Home / Business and Economy / Bank of India Secures Rs 10,000 Crore via Bond Sale

Bank of India Secures Rs 10,000 Crore via Bond Sale

23 Dec

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Summary

Bank of India successfully raised Rs 10,000 crore through long-term bonds.
The bond issuance was significantly oversubscribed, attracting bids of Rs 15,305 crore.
The bank will pay a coupon rate of 7.23% on the Rs 10,000 crore raised.

Bank of India Secures Rs 10,000 Crore via Bond Sale

Bank of India announced on Tuesday the successful completion of a Rs 10,000 crore long-term bond issuance. This significant fundraising effort was conducted through a private placement, with a base issue of Rs 5,000 crore augmented by a Rs 5,000 crore green shoe option. The bank's filing detailed robust investor interest.

The bond offering garnered substantial demand, attracting bids amounting to Rs 15,305 crore. This figure represents an oversubscription of 3.06 times against the base issue size, highlighting strong market confidence in the institution. The bank has elected to accept bids up to the Rs 10,000 crore mark.

Investors will receive a coupon rate of 7.23% per annum on the funds provided. This capital infusion is expected to bolster the bank's long-term financial capacity and support its strategic growth initiatives.