Bank of India, a state-owned commercial bank, announced that the bank has raised Rs 5 billion by issue of basel-Ill compliant additional tier 1 bonds (series-Ill).

The bonds have been rated as AA (-) by Brickwork and A+ by CRISIL and bear coupon rate of 11.50% p.a.

Currently, the bank announced that the bank has raised Rs 10 billion by issue of basel-lll compliant additional tier I bonds (series-ll). The bonds have been rated AA (-) by Brickwork and A+ by CRISIL and bear coupon rate of 11.50% p.a.

Shares of the company declined Rs 5.25, or 5.44%, to trade at  Rs 91.20.  The total volume of shares traded  was  887,663 at the BSE (12.43 p.m., Friday).