Bank of India to raise Rs 2,500 crore via perpetual bonds
Perpetual bonds do not offer fixed maturity but the issuer can call back the issue after 10 years. Basel III is a global capital standard for banks. Tier-I perpetual bonds are considered relatively riskier as these are unsecured investments. The securities may be converted to equity if a specific capital requirement falls below 5.5%.
The bank's Basel-III capital adequacy ratio stood at 9.97% as on March 31, 2014. Bank of India has 4545 branches in India. In addition BOI has overseas presence in 22 foreign countries.
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