Bank of India announces USD syndicated loan

Bank of India (BSE:BANKINDIA) announced that it is exercising a green shoe option for a USD syndicated loan, according to a filing under SEBI (LODR) Regulations, 2015. The initial borrowing of USD 300 million was previously intimated on December 31, 2024. The loan includes a green shoe option of USD 100 million. The bank has decided to exercise its option on USD 100 million, split between USD 50 million for three years and USD 50 million for five years. The syndication agreement has been executed and funds are expected on March 27, 2025, for general corporate purposes including overseas lending.