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Bank of Baroda to Raise Rs. 1,650 Cr from Bonds
October 16, 2017
Public sector Bank of Baroda said that in an effort to fund its business expansion, it may raise up to Rs. 1,650 crores by issuing Additional Additional Tier-I (AT-1) bonds.
The bank’s finance committee has already approved the issuance of AT-1 capital bonds compliant with Basel III capital norms of the RBI. These will be issued for a minimum amount of Rs 500 crore and will have the green shoe option. However, the committee has capped the total issuance at Rs. 1,650 crores in one as well as multiple issuances.
