India New Issue-Bank of Baroda to issue infrastructure bonds, bankers say

Bank of Baroda

03/09/2024 03:56

MUMBAI, Sept 3 (Reuters) - India's Bank of Baroda  BOB.NS  plans to raise up to 50
billion rupees ($595.7 million), including a greenshoe of 30 billion rupees, through
infrastructure bonds maturing in 10 years, three bankers said on Tuesday.
    It is likely to invite coupon and commitment bids for the issue later this week, they said.
    In August, the state-run bank had raised 50 billion rupees via infrastructure bonds maturing
in 10 years at a coupon of 7.30%.
    
 Here is the list of deals reported so far on Sept. 3: 
                                                                      
   Issuer   Tenure        Coupon (in %)  Issue size (in  Bidding      Rating
                                         bln rupees)*    date         
                                                                      
 Bank of    10 years      To be decided  20+30           To be        AAA (Crisil,
 Baroda                                                  decided      India Ratings)
 
*Size includes base plus greenshoe for some issues    

($1 = 83.9290 Indian rupees)

 (Reporting by Bhakti Tambe; Editing by Varun H K)
 ((Bhakti.Tambe@thomsonreuters.com))