India New Issue-Bank of Baroda to issue 15-year Tier II bonds, bankers say

Bank of Baroda

22/11/2024 10:25

MUMBAI, Nov 22 (Reuters) - India's Bank of Baroda  BOB.NS  plans to raise 35 billion
rupees ($414.60 million), which includes a 25 billion rupee greenshoe option, through the sale
of Basel III-compliant Tier II bonds maturing in 15 years, three bankers said on Friday.
    The state-run lender has invited coupon and commitment bids from bankers and investors for
Wednesday, the bankers added.
    The bonds have a call option at the end of 10 years, they said. 
    The bank did not immediately reply to a Reuters email seeking comment.

    
   Here is the list of deals reported so far on Nov. 22
             Issuer                                                            
                     Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                                  bln rupees)*    date         
                                                                               
 Bank of Baroda      15 years      To be decided  10+25           Nov. 27      AAA (Crisil,
                                                                               India Ratings)
             LIC     4 years and   7.65 (yield)   10              Nov. 22      AAA (Crisil,
 Housing             11 months                                                 Icra)
 Oct 2029 reissue                                                              
                                                                               
             ICICI   3 years and   To be decided  3.50+0.50       Nov. 25      AAA (Crisil)
 Home Finance        3 months                                                  
                                                                               
 ICICI Home Finance  10 years      To be decided  1+1.50          Nov. 25      AAA (Crisil)
                     3 years and   To be decided  5               Nov. 25      AAA (Crisil,
 Mindspace Business  2 months                                                  Icra)
 Parks REIT                                                                    
                                                                               
                         10 years           7.22              10  Nov. 25      AAA (Crisil,
 Ultratech Cement                                                              India Ratings)
                                                                               
 
*Size includes base plus greenshoe for some issues




($1 = 84.4190 Indian rupees)

 (Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan)
 ((Dharamraj.dhutia@tr.com))