Bank of India has raised Rs 1,500 crore through Basel-compliant Additional Tier 1 (AT-1) bonds. The bond issue was oversubscribed 12 times and the coupon rate is 8.57 per cent per annum. The issue consisted of Rs 500 crore base issue and a green-shoe option of Rs 1,000 crore. The proceeds will be used to shore up the regulatory and growth capital requirements of the bank.
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