Business Daily from THE HINDU group of publications
Friday, Oct 05, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 05, 2007 ePaper |
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Money & Banking
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Corporate Bonds BoI to raise Rs 155 crore Our Bureau Mumbai, Oct. 4 Bank of India is planning to raise Rs 155 crore through an issue of Innovative Perpetual Debt Instrument (IPDI) Bond Series III. The issue opened on October 3 and will remain open till October 15, said a release from the bank. The issue will carry a coupon of 10.4 per cent with a step up coupon rate of 10.9 per cent for all the subsequent years if call option is not exercised by the bank at the end of 10 years. The bank had earlier raised Rs 400 crore in July through a bond issue of IPDI Bond Series I at a coupon of 10.55 per cent and Rs 100 crore through IPDI Bond Series II in September 2007 at a coupon rate of 10.45 per cent, said the release. More Stories on : Corporate Bonds | Public Sector Banks
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