BoB raises Rs 5,000 cr from infra bond

Mumbai, Aug 27 (PTI) State-owned Bank of Baroda on Tuesday said it has raised Rs 5,000 crore by issuing long-term infrastructure bonds.

The lender said it is a ten-year bond issued at a coupon of 7.30 per cent, as per an official statement.

It can be noted that a slew of Indian lenders, including SBI, have raised resources through the infrastructure bonds route lately.

After launching the issue, the bank received 146 bids amounting to over Rs 15,000 crore, and settled by accepting bids of Rs 5,000 crore, the statement said.

The base issue was Rs 2,000 crore while the greenshoe option allowed to retain subscriptions of an additional Rs 3,000 crore, it added.

These bonds are senior, unsecured, listed, rated, taxable Bonds, having a fixed maturity of 10 years from the date of allotment, it said, adding that they are rated AAA with stable outlook by Crisil and India Ratings.