Comments
Bank of Baroda (BoB) on Thursday said it raised ₹3,500 crore through the issuance of Basel III Compliant Tier II capital bonds at a coupon rate of 7.41 per cent.
The public sector bank received a total of 120 bids amounting to ₹9,500 crore against the base issue size of ₹1,000 crore and a greenshoe option to retain oversubscription up to ₹2,500 crore (total issue size of ₹3,500 crore), per the Bank’s statement.
This translates into oversubscription of 9.5 times of the base issue size and 2.7 times of the total issue size. The bank accepted bids for ₹3,500 crore.
These bonds are unsecured, listed, rated, subordinated, non-convertible, taxable, redeemable having a tenor of 15 years from deemed date of allotment with a 10-year call option.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.