Bank of Baroda collects Rs1,000 crore via bonds issue

18 Aug 2022 , 09:24 AM

On Wednesday, the Bank of Baroda announced that it raised Rs1,000 crore through bonds. Bank has issued these bonds to fund infrastructure and affordable housing projects.

These bonds carry a seven-year maturity and are issued at a coupon rate of 7.39%, stated BOB in a regulatory filing.

Bonds were issued to investors on Wednesday, and the proceeds will be used to fund infrastructure and affordable housing projects, according to the statement.

Further, bank recently stated that The Bank of Baroda’s Capital Raising Committee will meet on August 22, 2022, to discuss the issuance of Basel III complaint bonds up to the Board-approved limit of Rs2,500 crore.

At around 9.30 AM, Bank of Baroda was trading at Rs125.85 down by 0.59% from its previous closing of Rs126.60 on the BSE. The scrip opened at Rs125.40 and touched intraday high and low of Rs126.75 and Rs125 respectively.