Bank of India to sell Rs 3 bn of bonds: Sources

Bank of India will start selling 3 billion rupees of perpetual bonds on Monday, three bankers said on Friday.

By ET Bureau | Aug 27, 2010, 11.20 AM IST

MUMBAI: Bank of India will start selling 3 billion rupees of perpetual bonds on Monday, three bankers said on Friday. The Tier-I bonds carry a coupon rate of 9.05 percent, the sources said, and one source added the paper is rated 'AAA' by CARE and Crisil.

The issue is scheduled to open on Monday and close on Sept. 6, two sources said, adding that eight arrangers have been mandated. These include ICICI Securities PD, SPA Merchant Bankers, Trust Investment Advisors, Real Growth Securities, Darashaw Securities, Edelweiss Securities.

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