Bank of Baroda plans to issue long-term bonds to fund infra

The bank’s investment committee will be meeting on July 16 to finalise the quantum and timing of issuance of these long-term bonds.

In its regulatory filing, Bank of Baroda said, “we advise that Investment Committee meeting of our Bank is scheduled to be held on July 16, 2022, to finalize the quantum and timing of issuance of Long Term Bonds for Financing of Infrastructure and Affordable Housing out of the Board approved limit of ₹5000 crore.”

On BSE, the bank’s shares closed at ₹105.05 apiece up by 5.63%. At the closing price, the bank’s market valuation is ₹54,325.16 crore on the exchange.

In the annual report for FY22, Bank of Baroda’s chairman Dr. Hasmukh Adhia said the bank has a positive outlook for the Financial Year 2022-23. The Government of India has come up with many initiatives for increasing spending on infrastructure projects and other investments to revive the economy. The banking industry, of course, would be benefited due to an increase in the demand for bank credit and Bank of Baroda would be a key beneficiary of these developments.