Bank of India raises 10 bln rupees via Basel III compliant bonds - filing
MUMBAI, Sept 26
MUMBAI, Sept 26 (Reuters) - Bank of India has raised 10 billion rupees ($160.4 million) through Basel III compliant 10-year tier II bonds at 9.80 percent, the lender said in a regulatory filing on Thursday.
The issue, which has been rated AAA by Crisil, has been placed with state-run insurer Life Insurance Corp, as per the exchange filing.
This will be the second Basel III-compliant bank capital issue in the domestic bond market, following a sale by state-run United Bank of India in June. ($1 = 62.3550 Indian rupees) (Reporting by Archana Narayanan; Editing by Anand Basu)
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