Bank of India May Raise $2.2 Billion From Debt, Stock
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Bank of India, a state-owned lender, plans to raise as much as 102.9 billion rupees ($2.2 billion) selling bonds and shares to investors in the South Asian country.
Debt will be issued to increase its Tier II and Upper Tier II capital, the company said in a filing today to the Bombay Stock Exchange. These securities will include notes with a minimum maturity of 10 years including those without specific maturities.