Big news for Bank of Baroda customers, BOB will raise Rs 15000 crore by selling bonds
Bank of Baroda (BoB), one of the major public sector banks, has planned to raise Rs 15000 crore from investors. BOB will get this money by selling bonds. BOB said it is raising money to expand its business. The committee of BOB has given approval for this. Read what is the complete news.
Bank of Baroda (BoB), one of the largest public sector banks, will raise Rs 15,000 crore from investors. This money will be raised by selling bank bonds. BOB said that he is raising this money for business growth.
The capital raising committee of BoB in its meeting held on Saturday has approved the issuance of Tier II/sub-debt bonds of Rs 2,000 crore with a greenshoe option, taking the total raised by Rs 3,000 crore to Rs 5,000 crore, BoB said in a regulatory filing. Rs. (10 years with a call option at the end of 5 years)
BoB said it has decided to issue infrastructure bonds worth Rs 2,000 crore with a greenshoe option to raise an additional Rs 8,000 crore, taking the total issue size to Rs 10,000 crore (tenor up to 7 years).
