 "BoB to raise upto Rs 5,000 cr via 1st tranche of infrastructure bond")
Bank of Baroda aims to raise upto Rs. 5000 crore through the first tranche of Infrastructure Bonds maturing in 10-years on Thursday.
The base size of the issue is Rs 1,000 Crores, with an additional Rs 4,000 Crores available through the Green Shoe Option. The bonds have been rated 'AAA' with a 'Stable' outlook by CRISIL and India Ratings.
On November 18, Bank of Baroda had announced that its capital raising committee has approved to raise up to Rs. 15,000 crore via bonds. This includes a sum up to Rs. 5,000 crore through the issuance of tier-II debt bonds and a maximum of ₹10,000 crore through infrastructure bonds. The maturity of the bonds will range between 7-year to 10-year.
The bank had said that it will use the amount to fund business growth.
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