Money & Banking

Bank of India raises $750 m through bonds

| Updated on: Feb 11, 2011

State-owned Bank of India (BoI) on Friday said it has raised $750 million from overseas market through bonds.

“The offering was split between the existing bonds maturing in 2015 ($250 million) and a fresh 10-year tranche ($500 million) maturing in 2021,” BoI informed the Bombay Stock Exchange.

The bond offer received orders from more than 280 investors across fund managers, private banks and insurance companies in Asia and Europe, it said.

“This reflects investors’ confidence in the bank in longer term. The issuance will enable us to provide liquidity for our existing bonds and also to fund long-term assets,” Bank of India Chairman and Managing Director Mr Alok Misra said.

Published on February 11, 2011

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