Bank of India concludes allotment of Rs 1000 crore via Tier-ll Bonds

Bank of India has completed the allotment of Rs 1000 Crore BASEL-III compliant unsecured, Tier-ll Bonds of 10 years at a coupon rate of 9.80% per annum on private placement basis to Life Insurance Corporation of India. The issue has been rated AAA by CRISlL.

Bank of India has 52 foreign offices in 20 countries and over 25% of its business is sourced from overseas. It was also the first Indian Bank to venture abroad having opened a branch in London in 1946.