Bank of Baroda raises Rs 2,500 crore through basel-III tier-II bonds
The bank received a total of 88 bids amounting to Rs 6,803 crore, according to a note by the bank
 "Bank of Baroda")
Bank of Baroda
Listen to This Article
Bank of Baroda raised Rs 2,500 crore through Basel-III Tier-II bonds with a 10-year maturity period at 7.75% on Wednesday.
The bank received a total of 88 bids amounting to Rs 6,803 crore, according to a note by the bank.
The term sheet outlined a base issue size of Rs 1,000 crore, with a provision for a retained oversubscription of Rs 1,500 crore.
The inclusion of a greenshoe option allows issuers the flexibility to exceed the base issue size, providing an effective mechanism for responding to heightened investor interest and securing additional funds.
The inclusion of a greenshoe option allows issuers the flexibility to exceed the base issue size, providing an effective mechanism for responding to heightened investor interest and securing additional funds.
More From This Section
Topics : Bank of Baroda Bonds Banking system Banking sector
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Dec 21 2023 | 9:12 PM IST