Bank Of India Raises Rs 10,000 Crore Via Long-Term Bonds

Bank of India has raised Rs 10,000 crore via the issuance of long-term bonds, according to an exchange filing on Tuesday. This comprises a base issue of Rs 5,000 crore, and a green shoe option of Rs 5,000 crore on a private placement basis.

The bank informed that it received bids amounting up to Rs 15,305 crore, which made the issue oversubscribed 3.06 times against the base issue size of Rs 5,000 crore.

"The bank received total bids amounting to Rs 15,305 crore in response from investors and the issue was oversubscribed by 3.06 times against the base issue size of Rs.5,000 crore. Further, Bank has decided to accept bids of Rs 10,000 crore at the cut-off coupon rate of 7.23% p.a.", the filing stated.