Bank of Baroda raises Rs. 5,000 Crores at a coupon of 7.57%
Mumbai, January 27, 2024: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced that it has raised Rs. 5,000 Crores through the issuance of Long-Term Infrastructure Bonds.
The Bank received a total of 128 bids amounting to Rs. 14,950 Crores against the total issue size of Rs. 5,000 Crores (Base issue of Rs. 1,000 Crores and Greenshoe option to retain oversubscription up to Rs. 4,000 Crores). This translates to ~15 times the base issue size and ~3 times the total issue size. The Bank accepted bids for Rs. 5,000 Crores at a coupon of 7.57% p.a.
The Bank said that the private placement of long-term infrastructure bonds received an overwhelming response, resulting in over-subscription which allowed it to price the issue at a competitive 7.57% p.a. This is despite tight liquidity conditions prevalent in the market.
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 25th January 2024.
The bonds are rated AAA with a Stable outlook by CRISIL and India Ratings.
Next Story :
-
Strict Action Against People Involved In Food Adulteration: Health Minister
![Strict Action Against People Involved In Food Adulteration: Health Minister]()
Hyderabad, Nov 22 (Maxim News): Keeping in view that the cases of food poisoning incidents have recently increased in the state capital Hyderabad. Food Adulteration incidents are coming to light somewhere in the city every day. It is known that recently a woman died after eating momos, Minister for Medical, Health and Family Welfare Damodar Raja Narasimha has…
-
CM Revanth Reviews Ongoing Works For Telangana Talli Statue Installation
![CM Revanth Reviews Ongoing Works For Telangana Talli Statue Installation]()
Hyderabad, Nov 22 (Maxim News): Chief Minister Revanth Reddy inspected the installation of the Telangana Talli Statue on the Secretariat premises. After greeting the laborers working there, the Chief Minister inquired about the work progress and other details.
-
Tension In Shadnagar After Shivalinga Damaged In Temple
![Tension In Shadnagar After Shivalinga Damaged In Temple]()
Shadnagar/Hyderabad, Nov 22 (Maxim News): Mild tension prevailed in the Shadnagar area as unidentified persons allegedly desecrated a temple at Janampeta, Shadnagar, Rangareddy district on Friday.
-
No evidence linking PM Modi, Jaishankar, NSA Doval to criminal activity: Canada
![No evidence linking PM Modi, Jaishankar, NSA Doval to criminal activity: Canada]()
Delhi/Hyderabad, Nov 22 (Maxim News): The Canadian government on Friday clarified formally the allegations linking Prime Minister Narendra Modi, External Affairs Minister S. Jaishankar, and criminal activities in Canada.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter and Instagram. For all the latest Hyderabad News updates
