Bank of India private placement

Bank of India has informed about the details of Private Placement made by the Bank are as follows:

- Name of the Instrument: Innovative Perpetual Debt Instruments - Series 3

- Credit Rating: AA+(stable) from CRISIL, LAA (Positive) from ICRA

- Amount: Rs 155 crore

- Mode of Raising: Private Placement

- Issue Opening Date: October 03, 2007

- Issue Closing Date: October 04, 2007

- Deemed date of Allotment: October 11, 2007

- Face Value per Bond: Rs 10,00,000/- each

- Coupon Rate: 10.40% p.a. upto 10 years and 10.90% p.a. after 10 years (if call option not exercised)

- Interest Payment Date: 1st April every year

- Tenure: Perpetual

- Put Option: NIL

- Call Option: After 10 years

- Listing: Wholesale debt market segment of National Stock Exchange of India Ltd.