Bank of India allots INR 2,690 crore in long-term bonds

Bank of India (BSE: BANKINDIA) announced the allotment of ₹2,690 crore in long-term infrastructure bonds, as of February 14, 2025. The bonds, issued through a private placement, are unsecured, subordinated, redeemable, and non-convertible. Taxable and listed, they are fully paid-up, with a face value of ₹1 lakh each. The ISIN for the bonds is INE084A08219, carrying a coupon rate of 7.50% per annum. The issue size was comprised of a base of ₹1,500 crore, along with a Green Shoe Option of ₹3,500 crore, aggregating to ₹5,000 crore, with 2,69,000 bonds allotted to 18 allottees. The bonds were open for subscription and closed on the 14th of February, 2025, with the allotment date set for February 18th, 2025. This allotment aligns with SEBI (LODR) Regulations, 2015.