BoB receives 2.8X subscription for its ₹5,000 cr infra bond issuance

Financial institution of Baroda on Monday stated it has raised ₹5,000 crore through long-term 10-year infrastructure bonds at a coupon charge of seven.26 per cent.

The general public sector financial institution, in an announcement, stated it accepted bids for ₹5,000 crore in opposition to a complete demand of ₹14,215 crore. The Financial institution obtained subscription of seven instances the bottom difficulty measurement (of ₹2,000 crore) and a couple of.8 instances the whole difficulty measurement (of ₹5,000 crore).

The bond issuance comprised a base difficulty of ₹2,000 crore and a greenshoe choice to retain oversubscription as much as ₹3,000 crore.

The bonds are senior, unsecured, listed, rated, taxable, having a set maturity of 10 years from the date of allotment (September 9). The Financial institution allotted the bonds of face worth ₹1 lakh every to 11 buyers.