Saturday, December 2, 2023

Bank of Baroda Raises Rs 5000 Crore Through The Issuance of Infrastructure And Affordable Housing Bonds

Bank of Baroda (Bank), one of India’s leading public sector banks, announced that it has raised Rs. 5,000 crore on 30th November, 2023 through the issuance of Long-Term Bonds for financing Infrastructure and Affordable Housing. The Bank received total bids of Rs. 10,350 crore against the total issue size of Rs. 5,000 crore (Base issue of Rs. 1000 crore and Greenshoe option of Rs. 4000 crore). The Bank accepted bids for Rs. 5,000 crore at a coupon of 7.68% p.a.  

These bonds are Senior, Unsecured, Listed, Rated, Taxable Bonds, having a fixed maturity of 10 years from the date of allotment. 

The allotment of these bonds took place on 1st December, 2023. 

The bonds are rated AAA with a Stable outlook by CRISIL and India Ratings.  

About Bank of Baroda 

Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of ~165 million through over 70,000 touch points spread across 17 countries in five continents and through its various digital banking platforms, which provide all banking products and services in a seamless and hassle-free manner. The Bank’s vision matches the aspirations of its diverse clientele base and seeks to instil a sense of trust and security in all their dealings with the Bank. 

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