Bank of Baroda, the second largest state-owned bank, is planning to raise Rs 1,000 crore through issuance of infrastructure and affordable housing bonds on August 12, a source close to the development told IANS.
“The likely tenure for the bonds is seven years and have Rs 250 crore as base issue and Rs 750 crore as greenshoe,” the source said.
The auction for the infrastructure and affordable housing bonds is expected to be held on August 12 on the BSE’s bidding platform.
During the bidding, better coupon is expected to set on the bonds considering the higher demand for PSU bonds.
The bonds have got ‘AAA’ ratings with ‘Stable’ outlook from ICRA and India Ratings and Research.
On June 27, the board of directors of the bank has approved raising Rs 5,000 crore through Long term Bonds for financing of infrastructure and affordable housing.
The source said Rs 5,000 crore is expected to raise by the bank in tranches.
Whereas, on July 16, the investment committee of the bank approved raising Rs 1,000 crore through this bonds.
–IANS
manish/ksk/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Passengers ride in an electric Waymo full self-driving technology in Santa MonicaAllen J. Schaben | Los Angeles Times | Getty ImagesWaymo, Alphabet's self-drivi
Long-term solutions for Midland’s legacy flooding issue are six years away from being implemented, but work to improve the problem could start as early as nex
Dubai, United Arab Emirates, 4 December 2023 (PAHO) – The Assistant Director of the Pan American Health Organization (PAHO), Dr. Rhonda Sealey-Thomas, has urg
A proposed EPA regulation would make lead pipes a thing of the past in America. While supporters of the updated rule point to the severe health conditi