India New Issue-Bank of Baroda likely to issue Tier II bonds this month, bankers say

Bank of Baroda

19/11/2024 03:43

MUMBAI, Nov 19 (Reuters) - India's Bank of Baroda  BOB.NS  is likely to raise up to 35
billion rupees ($414.70 million) through the sale of Basel III compliant Tier II bonds maturing
in 15 years, three bankers said on Tuesday.
    The state-run lender is expected to invite bids for the bond issue, which will have a call
option at the end of 10 years, before the end of this month, the bankers added.
    The bank did not immediately reply to a Reuters email seeking comment. 
    
 
  Here is the list of deals reported so far on Nov. 19: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 Bank of        15 years  To be decided              35  To be        AAA (Crisil,
 Baroda                                                  decided      India Ratings)
 
*Size includes base plus greenshoe for some issues



($1 = 84.3980 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)
 ((Dharamraj.dhutia@tr.com))