Bank of Baroda to issue bonds worth Rs. 5,000 crore
Bank of Baroda is preparing to issue bonds valued at Rs. 5,000 crore on November 30, as per Moneycontrol. The bond offering has a base size of Rs. 1,000 crore with an over-subscription option of Rs. 4,000 crore. CRISIL and India Ratings have given the bonds a 'AAA' rating with a 'Stable' outlook. The bonds are set to mature in 10 years, or on December 1, 2033.
Bidding and pay-in dates for Bank of Baroda bonds
The bidding for Bank of Baroda's bonds will occur on November 30, from 11:00am to 12:00pm, on the National Stock Exchange (NSE) of India's electronic bidding platform. The pay-in date for the bonds is set for December 1, marking the exchange of bonds and funds between the issuer and investors. The minimum application size for these bonds is Rs. 1 lakh, with multiples of Rs. 1 lakh thereafter.
Recent bond issuances by other financial institutions
On November 28, Power Finance Corporation, Edel Finance, and Auxilo Finserv collectively raised Rs. 2,749.60 crore through bond issuances. Edel Finance issued three bonds with two and three-year maturities, while Power Finance Corporation secured Rs. 2,625 crore through 10-year bonds at a 7.7% rate. Prior to these issuances, Canara Bank, Shriram Housing Finance, Tata Capital Financial Services, and Keertana Finserv Pvt Ltd also raised funds via bonds.
