Question
Bank of India raised Rs 2,000 crore in capital through
Basel III-compliant Tier-II bonds. What is the maturity period of these bonds, which have a 'AA+' rating from CRISIL?Solution
Bank of India has raised Rs 2,000 crore in capital via Basel III-compliant Tier-II bonds to comply with regulatory norms and fuel business growth. The bonds were issued with a coupon rate of 7.88 per cent. These Tier-II bonds, which have a 'AA+' rating from CRISIL, have a 10-year maturity period.
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