BoI raises Rs 10,000 crore via infrastructure bonds

New Delhi: State-owned Bank of India (BoI) on Tuesday said it has raised funds through issue of long-term infrastructure bonds of Rs 10,000 crore at a coupon rate of 7.23 per cent per annum.

The base issue size was Rs 5,000 crore with a green shoe option of Rs 5,000 crore, the bank said in a statement.

The bank received a total of 83 bids, amounting to Rs 15,305 crore.

Out of this, the lender accepted 37 bids amounting to Rs 10,000 crore.

The funds raised through long-term bonds will be used for funding long-term projects in infrastructure sub-sectors and affordable housing in accordance with the guidelines of Reserve Bank of India (RBI), it said.

The funds raised by the through this issue is not meant for financing any particular project, the bank added.