Bank of Baroda to raise up to Rs 10,000 cr  via green infra bonds on March 4

MUMBAI, Feb 27: State-owned lender Bank of Baroda plans to raise up to Rs 10,000 crore through issuance of green infrastructure bonds on March 4.

The base issue size is Rs 5,000 crore, with a green shoe option to retain oversubscription of up to Rs 5,000 crore, taking the total issue size to Rs 10,000 crore, market sources said.

Bonds will have a tenor of seven years and are scheduled to mature on March 5, 2033. The pay-in and allotment date is March 5, 2026. Pay in is the date when exchange of bonds and money takes place between issuer and investor.

The bidding for the bond issue will take place between 11:00 am and 12:00 pm on March 4 on the Electronic Book Provider (EBP) platform of the National Stock Exchange of India.

Bonds have been rated ‘AAA’ with ‘Stable’ by CARE Ratings and ICRA.

The bonds will carry annual interest payments and will be allocated on a uniform yield basis through a closed bidding process. The minimum application size is Rs 1 lakh and in multiples of Rs 1 lakh thereafter. (PTI)