Bank of Baroda to raise up to ₹15,000 crore through infrastructure, tier-II debt bonds. Details here
Bank of Baroda on November 18 informed the stock exchanges that its capital raising committee has given the nod to raise up to ₹15,000 crore, comprising not more than ₹5,000 crore via the issuance of tier-II debt bonds and a maximum of ₹10,000 crore through infrastructure bonds. The decision to raise the funds was finalised at the committee's meeting held earlier in the day, the public sector lender said in a regulatory filing.
On the planned fundraise via the tier-II debt bonds route, the bank said the panel has cleared the issuance of ₹2,000 crore through 10-year tier-II bonds, and permitted the raising of another ₹3,000 crore through the greenshoe option. Also Read: The ugly underbelly of BoB’s app usage fiasco “…Capital Raising Committee of our Bank in its meeting held today i.e.
18.11.2023 has approved the issuance of ₹2,000 crore Tier II/sub debt bond with the greenshoe option to raise another ₹3,000 crore totalling ₹5,000 crore (10 years with call option at the end of 5 years)," the filing stated. The bank has further decided to issue 7-year infrastructure bonds amounting to ₹2,000 crore, “with a greenshoe option to raise an additional ₹8000 crores totaling the issue size of ₹10,000 crore", it added.
Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! The development comes over a month after the bank, in a regulatory filing on October 11, said its board has approved a proposal to raise ₹10,000 crore to fund affordable housing and infrastructure projects.
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