India New Issue-Bank of India accepts bids for Tier-II bonds, bankers say

Bank Of India

25/09/2024 07:58

MUMBAI, Sept 25 (Reuters) - Bank of India   BOI.NS  has accepted bids worth 25 billion
rupees ($299.35 million) for Basel III compliant Tier-II bonds maturing in 10 years, three
bankers said on Wednesday.
    The state-run lender has set a coupon of 7.49%. It had invited bids from bankers and
investors earlier in the day.
    In July, it had raised 50 billion rupees selling 10-year infrastructure bonds at 7.54%
coupon.
 
 Here is the list of deals reported so far on Sept. 25: 
                                                                           
 Issuer          Tenure        Coupon (in %)  Issue size (in  Bidding      
                                              bln rupees)*    date         Rating
                                                                           
                                                                           
 Bank of India   10 years      7.49           25              Sept 25      AA+
                                                                           (India
                                                                           Ratings)
                      3 years  To be decided               9  Sept 25      AAA
 Embassy Office                                                            (Crisil)
 Parks REIT                                                                
                                                                           
 
   * Size includes base plus greenshoe for some issues


($1 = 83.5150 Indian rupees)

 (Reporting by Bhakti Tambe)
 ((Bhakti.Tambe@thomsonreuters.com))