Bank Of Baroda Secures Rs 2,500 Cr Via Basel-III Tier-II Bonds
Bank of Baroda raised Rs 2,500 crore through 10-year Basel-III Tier-II bonds at a 7.75% rate on Wednesday.
As per the bank's note, they received a total of 88 bids, totaling Rs 6,803 crore. The term sheet initially specified a Rs 1,000 crore base issue size and allowed a retained oversubscription of Rs 1,500 crore.
Additionally, the inclusion of a greenshoe option provides flexibility to exceed the base issue size, catering to increased investor interest and securing extra funds effectively.
