BoB mops up ₹5,000 crore via 10-year infra bond at 7.30%

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Bank of Baroda (BoB) has raised ₹5,000 crore through 10 year infrastructure bonds at a coupon rate of 7.30 per cent.

The public sector bank received a total of 146 bids amounting to ₹15,020 crore against the total issue size of ₹5,000 crore (base issue of ₹2,000 crore and greenshoe option to retain over-subscription up to ₹3,000 crore).

“This (over-subscription) translates into subscription of 7.5 times the base issue size and 3 times the total issue size. These bonds are senior, unsecured, listed, rated, taxable bonds, having a fixed maturity of 10 years from the date of allotment. The allotment of the bonds took place on 27th August, 2024,” BoB said in a statement. The bonds are rated ‘AAA’ with a Stable outlook by CRISIL and India Ratings, it added.