In a separate move, Bank of Baroda (BoB) secured ₹3,500 crore by issuing Basel III-compliant Tier-2 bonds at the same coupon rate, according to sources familiar with the matter.
BoB's Tier-2 bond issuance had a base size of ₹1,000 crore and a green shoe option of ₹2,500 crore. The issue received a strong investor response, with bids totalling ₹9,500 crore—nearly three times the issue size. The bonds, which are rated AAA/stable by CRISIL and India Ratings, have a 15-year tenure with a 10-year call option. The issuance garnered 120 investor bids, the sources added.
This story is from the November 28, 2024 edition of Business Standard.
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This story is from the November 28, 2024 edition of Business Standard.
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