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Bank of Baroda, ICICI Bank to consider fundraising this week via debt instruments
April 18, 2023
The boards of Bank of Baroda (BoB) and ICICI Bank will meet this week to consider and approve raising of funds through debt instruments. While BoB’s board meet is scheduled on April 21, ICICI Bank’s meeting is fixed on April 22.
Public sector lender Bank of Baroda informed the exchanges that its board will consider and approve raising of foreign currency funds through issuance of bonds or other borrowings.
“The meeting of Board of Directors of our Bank is scheduled to be held on 21 April interalia to consider and approve the raising of foreign currency fund through issuance of bonds and/or certificate of deposits and/or other borrowings,” Bank of Baroda said in a filing.
On Monday, BoB shares were up nearly 3% in afternoon trade at ₹176.45 on NSE. So far this year, the shares are down about 5.34%
Meanwhile, ICICI Bank said its board will meet on April 22 to consider and approve fundraising by way of issuance of debt securities, including NCDs, bonds and other instruments on a private placement basis. The fundraising, if approved, will be executed in one or multiple tranches.
“The Board of the bank at its meeting scheduled on April 22, 2023, will also consider, inter-alia, fundraising by way of issuance of debt securities, including non-convertible debentures/bonds/notes/offshore certificate of deposits in single or multiple tranches in any currency through public/private placement and buyback of securities within the limits that the board is authorised to approve under applicable law,” ICICI Bank said.
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