Bank of Baroda, the second largest state-owned financial institution, is planning to lift Rs 1,000 crore by way of issuance of infrastructure and inexpensive housing bonds on August 12, a supply near the event instructed IANS.
“The likely tenure for the bonds is seven years and have Rs 250 crore as base issue and Rs 750 crore as greenshoe,” the supply mentioned.
The public sale for the infrastructure and inexpensive housing bonds is anticipated to be held on August 12 on the BSE’s bidding platform.
During the bidding, higher coupon is anticipated to set on the bonds contemplating the upper demand for PSU bonds.
The bonds have gotten ‘AAA’ rankings with ‘Stable’ outlook from ICRA and India Ratings and Research.
On June 27, the board of administrators of the financial institution has authorized elevating Rs 5,000 crore by way of Long time period Bonds for financing of infrastructure and inexpensive housing.
The supply mentioned Rs 5,000 crore is anticipated to lift by the financial institution in tranches.
Whereas, on July 16, the funding committee of the financial institution authorized elevating Rs 1,000 crore by way of this bond.