Bank of Baroda raises Rs 5,000 crore via 10-year bonds at 7.68% coupon

The issue received total bids worth Rs 10,350 crore against a base issue size of Rs 1,000 crore and retains over subscription of Rs 4,000 crore.

Public sector lender Bank of Baroda (BoB) raised Rs 5,000 crore via 10-year bonds, sources said. The bank raised the bonds at 7.68 percent coupon.

The issue received total bids worth Rs 10,350 crore against a base issue size of Rs 1,000 crore and retains over subscription of Rs 4,000 crore.

Bidding for these bonds took place on November 30, between 11 am and 12 pm on the electronic bidding platform of the National Stock Exchange of India.

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The bonds have been rated 'AAA' with a 'Stable' outlook by CRISIL and India Ratings. The minimum application size of the bonds is Rs 1 lakh and in multiples of Rs 1 lakh.

On November 28, Power Finance Corporation, Edel Finance Co Ltd, and Auxilo Finserv Pvt Ltd raised Rs 2,749.60 crore through the bond route.

Edel Finance issued three bonds, which will be maturing in three years and two years. Power Finance Corporation raised Rs 2,625 crore through 10-year bonds at 7.70 percent. Prior to this, Canara Bank, Shriram Housing Finance, Tata Capital Financial Services, and Keertana Finserv Pvt Ltd raised funds via bonds.