Bank of India Raises INR10,000 Crore Through Long-Term Infrastructure Bonds; Issue Sees INR15,305 Crore Demand

Mumbai, Dec 24: Bank of India, a leading Public Sector Bank, has raised funds through issue of Long Term Infrastructure bonds of Rs. 10,000 crore @ 7.23% p.a, today through NSE Electronic Bidding Provider Platform. The Base Issue size was Rs.5,000 crore with Green Shoe option of Rs.5,000 crore. Bank received total of 83 bids amounting to Rs.15,305 crore. Out of this, Bank accepted 37 bids amounting to Rs. 10,000 crore.  

The funds raised through Long Term Bonds will be used for funding long term projects in infrastructure sub-sectors and affordable housing in accordance with RBI guidelines.The funds raised by the Bank through this issue is not meant for financing any particular project.