India New Issue-Bank of India to issue Tier-II bonds, bankers say

Bank Of India

20/09/2024 03:42

MUMBAI, Sept 20 (Reuters) - Bank of India  BOI.NS  plans to raise up to 25 billion
rupees ($299.04 million), through sale of Basel III compliant Tier-II bonds maturing in 10
years, three bankers said on Friday.
    The state-run lender is likely to invite bids from bankers and investors on Tuesday, they
said. 
    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. 20: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding       Rating
                                         bln rupees)*    date         
                                                                      
 Bank of        10 years  To be decided              25  To be        AA+ (India
 India                                                   decided      Ratings)
 
   * Size includes base plus greenshoe for some issues

    ($1 = 83.6000 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)
 ((Dharamraj.dhutia@tr.com))