Money & Banking

Bank of Baroda raises ₹1,997 crore via AT-1 bonds

Our Bureau | | Updated on: Nov 26, 2021
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The Bank has allotted the bonds to 21 investors

Bank of Baroda (BoB) has raised ₹1,997 crore via an issue of Additional Tier 1 bonds at a coupon rate of at 7.95 per cent. Bonds of ₹1 crore are unsecured, rated, listed, subordinated, non-convertible, fully paid-up Basel III compliant perpetual bonds.

Bids of ₹5,308 crore

The public sector bank informed exchanges that it has received total bids aggregating ₹5,308 crore against issue size of ₹2,000 crore. The issuance was finalised for ₹1,997 crore.

The Bank of Baroda has allotted the bonds to 21 investors.

Also see: BoB’s arm launches credit card powered by mobile app

Recently, the Union Bank of India had mopped up ₹2,000 crore via AT-1 bonds on private placement basis at a coupon rate of 8.70 per cent.

Published on November 26, 2021

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