Bank of Baroda has raised Rs 2474 crore through Unsecured Rated Listed Basel III additional tier 1 perpetual non-convertible bonds Series XIX and allotted 7.88%, 2474 bonds having face value of Rs 1 crore.
Perpetual bonds carry no maturity date and they can be treated as equity rather than debt. Even as such bonds are not redeemable, they pay a steady flow of interest forever. The bonds are rated ‘AAA’ with stable outlook by Icra and India Ratings.
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.
