Bank of India has successfully redeemed its 9.30% Additional Tier I Bonds Series VII, amounting to ₹602 crore. The redemption was executed through a call option, with the principal amount and broken period interest paid to bondholders on 30th March 2026.
The bonds, identified by ISIN INE084A08144, were fully redeemed, marking the completion of the bank’s obligation under this series. The redemption was not partial, as the entire quantity of 6,020 non-convertible debentures (NCDs) was involved. Consequently, there is no outstanding amount remaining for this bond series.
The call option was exercised as per the terms outlined in the bond agreement, with the redemption date coinciding with the call option date. The last interest payment on these bonds was made on 2nd April 2025, and the bank also disbursed ₹55,67,92,268 as broken period interest to bondholders.
This strategic move by Bank of India aligns with its financial management objectives, ensuring that the bank maintains a robust capital structure while fulfilling its commitments to investors.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).