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Bank of India (BoI) has successfully raised Rs 26.90 billion through 10-year infrastructure bonds at an interest rate of 7.50 per cent via the NSE Electronic Bidding Platform. The issue's base size was Rs 15 billion, with an additional green shoe option of Rs 35 billion. This marks BoI’s third infrastructure bond issuance for the current financial year. The bank received a total of 94 bids amounting to Rs 88.45 billion, which was 5.90 times the base issue size. After evaluating the bids, BoI accepted 26 bids and finalised the issuance at a coupon rate of 7.50 per cent, totalling Rs 26.90 billion. The funds raised through these long-term bonds will be directed towards financing infrastructure projects and affordable housing, in line with Reserve Bank of India (RBI) guidelines. However, the funds are not intended for any specific project. In the period leading up to December 31, 2024, BoI has raised a total of Rs 125 billion through various bond issuances, including Rs 25 billion in Basel III Tier-II bonds in September at 7.49 per cent, Rs 50 billion in infrastructure bonds in July at 7.54 per cent, and another Rs 50 billion in infrastructure bonds in November at 7.41 per cent. News source: The Hindu Businessline