Chennai: Bank of India has informed the Bombay Stock Exchange (BSE) about its private placement made in order to lift capital.

The instrument known as Innovative Perpetual Debt Instruments - Series 3, has a credit rating of AA+(stable) from Crisil and LAA (Positive) from ICRA and the quantity is Rs 155 crore.

The issue opened on October 3 and ended on October 4. The deemed date of allocation is October 11.

The face value per bond is Rs 10 lakh and the coupon rate, 10.40 per cent annually for 10 years and 10.90 per cent yearly after 10 years (if call option not exercised).

The put option is zero and call option after 10 years.

The listing was on the wholesale debt market section of National Stock Exchange of India Ltd.