Bank of India issues Rs 2,000 crore Basel-III Tier-II bonds with 10-year maturity. Swipe for more >>
The base issue size is Rs 1,000 crore with an option to retain oversubscription up to Rs 1,000 crore. Call option available after five years.
Bidding for the bonds will be on September 13 from 10 AM to 12 PM on the NSE electronic platform, with pay-in and allotment on September 15.
CRISIL and Acuite Ratings rate the bonds 'AA+' with 'Stable' and 'Positive' outlooks, respectively, reflecting strong creditworthiness.
Bank of India plans to utilize the proceeds for regular business activities, with no specific project financing in mind.
The bonds are proposed to be listed on NSE's wholesale debt segment, with penalties for listing delays and defaults.
IDBI Trusteeship Services and Bigshare Services are appointed as debenture trustee and registrar, respectively, for the bond issue.