Bank of Baroda has raised Rs 2,500 crore through the issuance of Basel III Compliant Tier-II Bonds Series XXVI to fund business growth. The bank has received a strong response from investors, which allowed it to price the issue at a very competitive coupon rate of 7.57 per cent.
These bonds are unsecured, listed, rated, subordinated, non-convertible, taxable, redeemable having a tenor of 10 years from deemed date of allotment with a 5-year call option. The bidding for the bonds took place on February 21, 2024 while the allotment was done on February 22, 2024.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
Company Name | CMP |
---|---|
SBI | 825.70 |
Bank Of Baroda | 281.60 |
PNB | 141.10 |
Canara Bank | 621.85 |
Union Bank Of India | 154.25 |
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