BoI plans to raise up to Rs 3,000 cr via tier-II bonds
However, the bank did not elaborate on usage of proceeds
 "BoI plans to raise up to Rs 3,000 cr via tier-II bonds")
Public lender Bank of India (BoI) today said it will raise up to Rs 3,000 crore by issuing tier-II bonds.
"The bank intends to issue unsecured, non-convertible, redeemable, Basel III-compliant tier-II bonds for an amount of Rs 1,500 crore with a green-shoe option of Rs 1,500 crore at an appropriate time," the bank said in a filing to BSE.
However, BoI did not elaborate on usage of proceeds.
Shares of the bank traded at Rs 117.45 apiece on BSE, up 0.86 per cent.
"The bank intends to issue unsecured, non-convertible, redeemable, Basel III-compliant tier-II bonds for an amount of Rs 1,500 crore with a green-shoe option of Rs 1,500 crore at an appropriate time," the bank said in a filing to BSE.
However, BoI did not elaborate on usage of proceeds.
Shares of the bank traded at Rs 117.45 apiece on BSE, up 0.86 per cent.
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First Published: Dec 23 2015 | 2:05 PM IST