Bank of India issuing Rs 2,000cr bonds today?

Bank of India issues Rs 2,000 crore Basel-III Tier-II bonds with 10-year maturity.                                                  Swipe for more >>

Issue Details

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 Date

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.

Credit Ratings

CRISIL and Acuite Ratings rate the bonds 'AA+' with 'Stable' and 'Positive' outlooks, respectively, reflecting strong creditworthiness.

Utilization of Funds

Bank of India plans to utilize the proceeds for regular business activities, with no specific project financing in mind.

Listing Plans

The bonds are proposed to be listed on NSE's wholesale debt segment, with penalties for listing delays and defaults.

Appointed Trustees

IDBI Trusteeship Services and Bigshare Services are appointed as debenture trustee and registrar, respectively, for the bond issue.