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Bank of India raises Rs 750 crore via AT-1 bonds

  •   Wed, Jan 27 2021 07:21:42 PM

Mumbai, Jan 27 (IANS): State-owned Bank of India has raised Rs 750 crore via bond issue on Wednesday.

Accordingly, the lender, raised Rs 750 crore via issuance of 'Basel III Compliant Additional Tier 1' bonds on a private placement basis.

These bonds come are specialised debt instrument issued by banks to shore up capital requirements for Basel-III norms.

"Issue was over-subscribed with receipt of bids up to Rs 1,017 crore against issue size of Rs 750 crore," the lender said in a statement.

 
  

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Title: Bank of India raises Rs 750 crore via AT-1 bonds



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