Finance
YellsyGordon's Kitchen: Bank of India serves up Rs 2,500cr bonds
Listen up! The Bank of India just whipped up Rs 2,500 crore in tier II bonds at a sizzling 7.28% cut-off, while HUDCO cooked up Rs 1,905 crore at 6.98%. With other offerings tossed out, demand surged like a soufflé! Pension funds dove in, and banks are on fire in the bond market. No room for undercooked deals here!
few days ago | Subrata Panda, Anjali Kumari
Quick rundown
1.Bank of India raised Rs 2,500 crore through tier II bonds.
2.HUDCO raised Rs 1,905 crore with seven-year bonds.
3.PFC and SIDBI's withdrawal boosted demand for BoI and HUDCO bonds.
4.Pension funds were major bidders in the bond issuances.
5.Banks have been active in the bond market after a slow start to the year.
