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Bank of Baroda raises Rs 1,650 crore by through bonds
Bank of Baroda on Thursday said it has raised Rs 1,650 crore by issuing Basel-III compliant bonds.
New Delhi: Bank of Baroda on Thursday said it has raised Rs 1,650 crore by issuing Basel-III compliant bonds.
The bank issued 16,500 (8.70 per cent) unsecured subordinated fully paid-up additional tier 1 Basel-III non-convertible perpetual taxable bonds with an issue size of Rs 1,650 crore, it said in a regulatory filing.
The issue, which opened on Tuesday and closed the same day, saw a total of 21 allottees through private placement of bonds.
To comply with Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes.
These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.
