New Delhi: Public Sector loan provider Bank of India has actually increased Basel III certified Tier II bonds of Rs 2,500 crore at 7.49 percent rate of interest via NSEElectronic Bidding Provider Platform
“The Base Issue size was Rs.1,000 crore with Green Shoe option of Rs 1,500 crore. Bank received total of 76 bids amounting to Rs 6,046 crore. Out of this, bonds were allotted to 42 bidders amounting to Rs 2,500 crore,” BOI stated in a declaration.
The Tier II funding is increased for enhancing the general funding of the Bank and for improving the long-term sources based on the RBI standards. The funds increased by the Bank via this problem is not indicated for funding any kind of certain task. The Bank will make use of the earnings of this problem for its regular service tasks, it included.
