BoI raises $500 m via paper bonds

Further, it said the bonds were swapped into a floating rate of 175 basis points above Libor (London Inter bank offered rate). With this, BoI has so far raised $1 billion under its $2 billion MTN programme, which was launched in 2005.
 
BoI had approached international investors with its roadshow last month  for $500 million issue but later deferred it for sometime as market conditions were not conducive.
The book size of the issue was $4 billion and orders were spread over 300 quality investors, the bank said.

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