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
To stay updated with the Latest Stock Market news, download our app here !
For editorial purposes, contact news@tradebrains.in
Start Your Financial Learning Journey
Want to learn Stock Market and other Financial Products? Make sure to check out, FinGrad, the learning initiative by Trade Brains. Click here to Register today to Start your 3-Day FREE Trail . And do not miss out on the Introductory Offer!!
