Published on 10/9/2007 in the Prospect News Emerging Markets Daily.
New Issue: Bank of India prices Rs. 155 billion perpetual notes with a coupon of 10.4%
By Aaron Hochman-Zimmerman
New York, Oct. 9 - The Bank of India priced a Rs. 155 billion offering of perpetual notes (Crisil: AA+/, ICRA: LAA) with a coupon of 10.4%, according to a press release.
The coupon increases to 10.9% after 10 years if the bonds are not called. After 10 years the bonds may be called without penalty.
| Issuer: | Bank of India
|
| Amount: | Rs. 155 billion
|
| Maturity: | Perpetual
|
| Coupon: | 10.4%, steps up to 10.9% after 10 years
|
| Call: | After 10 years at par
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 11
|
| Ratings: | Crisil: AA+
|
| ICRA: LAA
|
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