Bank of India plans up to Rs. 10 billion of Basel 3 tier 1 perpetuals

By Susanna Moon

Chicago, March 1 – Bank of India plans to issue Rs. 5 billion of Basel 3 compliant additional tier 1 perpetual bonds, series 4.

The perpetuals (AA-/stable, A+/negative) will be issued by way of private placement with an over-allotment option for another Rs. 5 billion, according to a notice.

State Bank of India is a Mumbai-based multinational, public sector banking and financial services company.

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