Bank of India Raises Rs. 5,000 Crore Through Long Term Infrastructure Bonds

Mumbai: Bank of India, a leading public sector bank, has raised Long Term Infrastructure Bonds of Rs.5,000 crore at 7.54% p.a, today through the NSE Electronic Bidding Platform. The Base Issue size was Rs.2,000 crore with a Green Shoe option of Rs.3,000 crore. 

Bank received a total of 127 bids amounting to Rs.15,318 crore. Out of this, 57 successful bidders were amounting to Rs.5,000 crore.
 

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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.

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