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Bank of Baroda to issue bonds worth Rs 5,000 cr

Bank of Baroda to issue bonds worth Rs 5,000 cr

India Blooms News Service | @indiablooms | 29 Nov 2023, 11:17 pm

Mumbai: Bank of Baroda is set to issue bonds worth Rs 5,000 crore on November 30, Moneycontrol reported.

The initial offering is set at Rs 1,000 crore, with a provision for oversubscription up to Rs 4,000 crore.

These bonds will have a maturity period of 10 years, concluding on December 1, 2033.

The bidding process for these bonds is scheduled for November 30, occurring between 11 am and 12 pm on the electronic bidding platform of the National Stock Exchange of India.

Investors are required to complete the pay-in for the bonds by December 1.

The pay-in date signifies the exchange of bonds and funds between the issuer and investors.

The credit rating agencies CRISIL and India Ratings have assigned an 'AAA' rating with a 'Stable' outlook to these bonds.

The minimum application size for these bonds is Rs 1 lakh, with increments in multiples of Rs 1 lakh.

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