Bank of India Raises Rs 5,000 Crore Through Long Term Infrastructure Bonds

New Delhi: Public sector lender Bank of India, has announced that it raised Long Term Infrastructure Bonds of Rs 5,000 crore.

"Bank of India, a leading public sector bank, has raised Long Term Infrastructure Bonds of Rs.5,000 crore @ 7.54% p.a, today through NSE Electronic Bidding Platform," the bank ssaid in a statement.

The Base Issue size was Rs.2,000 crore with Green Shoe option of Rs.3,000 crore.  Bank received total of 127 bids amounting to Rs.15,318 crore.  Out of this, there were 57 successful bidders amounting to Rs.5,000 crore. 

The funds raised through Long Term Bonds will be used for funding long term projects in infrastructure sub-sectors and affordable housing in accordance with RBI guidelines, it added.  

The funds raised by the Bank through this issue is not meant for financing any particular project.