Bank of Baroda will raise Rs 1,000 crore debt capital by issuing long-term bonds to cater to the financing requirement in the infrastructure sector.

The lender has received approval from its Investment Committee in a meeting held on Saturday.

“The Investment Committee of the Bank of Baroda in its meeting held on July 16, 2022 has approved raising of Rs 1,000 crore towards long-term bonds for financing of infrastructure and affordable housing, out of the board approved limit of Rs 5,000 crore,” Bank of Baroda said in a regulatory filing.

The lender intends to raise Rs 5,000 crore to cater to the infrastructure and affordable housing in multiple tranches during the financial year 2022-23.

These bonds will be senior, unsecured in nature and will not form part of the capital of the bank. PTI KPM DRR

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