Bank of Baroda to raise Rs500 crore through perpetual bonds

29 Aug 2022 , 10:37 AM

Bank of Baroda  intends to sell extra Tier I perpetual notes in compliance with Basel III to generate at least 5 billion rupees ($62.52 million). According to investment banks managing the issue, bankers and investors have been asked to submit commitment and coupon offers by the state-run bank.

ICRA and India’s Ratings have rated the bonds AA+. Subscriptions to the issue expire later this week. At the conclusion of five years, it has a call option and a greenshoe option to keep an additional 20 billion rupees. The issue of infrastructure bonds with a seven-year maturity date helped the bank raise 10 billion rupees earlier this month.

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