By Aaron Hochman-Zimmerman
New York, July 27 - Bank of India priced Rs. 4 billion in series I perpetual notes at par to yield 10.55%, according to a press release.
A greenshoe option allowed the bank to double the original offer amount of Rs. 2 billion.
The bonds feature 10 years of call protection, and an increase in the coupon rate to 11.05% if the bonds are not called.
The nationalized bank is based in Mumbai, India.
| Issuer: | Bank of India
|
| Amount: | Rs. 4 billion
|
| Issue: | Series I perpetual notes
|
| Callable: | 2017
|
| Coupon: | 10.55%
|
| Price: | Par
|
| Yield: | 10.55%
|
| Step up: | 11.05%, if not called
|
| Pricing date: | July 27
|
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