BoB receives 2.8X subscription for its ₹5,000 cr infra bond issuance

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Bank of Baroda on Monday said it has raised ₹5,000 crore via long-term 10-year infrastructure bonds at a coupon rate of 7.26 per cent.

The public sector bank, in a statement, said it accepted bids for ₹5,000 crore against a total demand of ₹14,215 crore. The Bank received subscription of 7 times the base issue size (of ₹2,000 crore) and 2.8 times the total issue size (of ₹5,000 crore).

The bond issuance comprised a base issue of ₹2,000 crore and a greenshoe option to retain oversubscription up to ₹3,000 crore.

The bonds are senior, unsecured, listed, rated, taxable, having a fixed maturity of 10 years from the date of allotment (September 9). The Bank allotted the bonds of face value ₹1 lakh each to 11 investors.