Bank of India — Important, 18-02-2025: Updates

Bank of India has successfully issued and allotted Long Term Bonds (Infrastructure) totaling Rs. 2,690 Crore through a private placement. The bonds are unsecured, subordinated, redeemable, non-convertible, and fully paid-up, each with a face value of Rs. 1 lakh. The total issue includes a base size of Rs. 1,500 Crore, with a green shoe option of up to Rs. 3,500 Crore, potentially allowing for a total of Rs. 5,000 Crore to be raised. The bonds carry a coupon rate of 7.50% per annum and were allotted to 18 investors. This move strengthens the bank's funding position and provides an opportunity for enhanced liquidity, which could positively impact future growth strategies.