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

Bank Of India

23/09/2024 11:18

MUMBAI, Sept 23 (Reuters) - Bank of India  BOI.NS  plans to raise up to 25 billion
rupees ($299.4 million), including a greenshoe option of 15 billion rupees, through issue of
tier-II bonds maturing in 10 years, three merchant bankers said on Monday.
    The bank has invited bids from bankers and investors for the issue on Wednesday, they said
 
   Here is the list of deals reported so far on Sept. 23: 
             Issuer                                                                
                         Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                      bln rupees)*    date         
                                                                                   
 Bank of India           10 years      To be decided  10+15           Sept 25      AA (Crisil)
             Shriram     4 years and   9.10 (yield)   20.50           Sept 23      AA+
 Finance June 2029       9 months                                                  (Crisil)
 reissue                                                                           
                                                                                   
             HUDCO       10 years      7.15           20              Sept 23      AAA (India
                                                                                   Ratings)
             Bajaj       9 years and   7.86 (yield)   15.32           Sept 19      AAA
 Finance May 2034 bond   8 months                                                  (Crisil)
 reissue                                                                           
                                                                                   
 Bajaj Finance July      4 years and   7.98 (yield)   15.65           Sept 19      AAA
 2029 bond reissue       10 months                                                 (Crisil)
             Tata        5 years       7.86           10              Sept 20      AAA
 Capital Housing                                                                   (Crisil)
 Finance                                                                           
                                                                                   
             PNB         3 years and   To be decided  1+3             Sept 24      AA+
 Housing Finance         4 months                                                  (Crisil)
                                                                                   
 *Size includes base plus greenshoe for some issues


($1 = 83.5080 Indian rupees)

 (Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Varun H K)
 ((Bhakti.Tambe@thomsonreuters.com))