Loan & Debt25 Mar 2025, 12:08 am
Bank of India Exercises Green Shoe Option of USD 100 Mn Syndicated Loan
AI Summary
Bank of India has decided to exercise the green shoe option of USD 100 Mn in its USD 300 Mn syndicated loan. The loan, which had a green shoe option of USD 100 Mn, was initially borrowed on 31.12.2024. The bank will receive the funds on 27.03.2025 and will use them for general corporate purposes, including lending at its overseas branches. The syndication agreement for the exercise of the green shoe option has been executed.
Key Highlights
- Bank of India exercises green shoe option of USD 100 Mn in its USD 300 Mn syndicated loan.
- The green shoe option includes USD 50 Mn for 3 years and USD 50 Mn for 5 years.
- The funds are expected to be received on 27.03.2025.
- The funds will be used for general corporate purposes and lending at overseas branches.
- The syndication agreement for the exercise of the green shoe option has been executed.