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Bank of Baroda raises over Rs 9.7 bn by issuing Basel III compliant bonds

The bank issued Basel III compliant tier II bonds of face value of Rs 1 million each amounting to Rs 9.71 billion

Press Trust of India  |  New Delhi 

Bank of Baroda

on Friday said it has raised over Rs 9.71 billion by issuing compliant bonds.

The bank issued compliant tier II bonds of face value of Rs 1 million each amounting to Rs 9.71 billion.

The unsecured, redeemable bonds carry a coupon rate of 8.42 per cent, said in a regulatory filing.

The issue opened Thursday and closed the same day, it added. As many as 17 allottees were given the bonds under the issue.

is an international regulatory framework with a set of reforms to improve the regulation, supervision and risk management within the

To comply with global Basel-III capital regulations, need to improve and strengthen their capital planning process.

These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of

Indian banking system has been implementing in phases since April 1, 2013. The are expected to fully implement these norms by March 2019.

Stock of closed 1.14 per cent up at Rs 106.30 on BSE.

First Published: Fri, December 07 2018. 17:50 IST
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