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Bank of India said that it will be raising up to Rs 3,000 crore through issuing tier-II bonds.
It said in a BSE filing that “The bank intends to issue unsecured, non-convertible, redeemable, Basel III- compliant tier -II bonds for an amount of Rs 1,500 crore with a green-shoe option of Rs 1,500 crore at an appropriate time”.
The bank has not elaborated on the usage of proceeds.
