Latest News | Bank of Baroda Raises Rs 2,474 Crore by Issuing Bonds
Get latest articles and stories on Latest News at LatestLY. Bank of Baroda has raised Rs 2,474 crore by issuing bonds at the rate of 7.88 per cent through stock exchanges.
New Delhi, Sep 2 (PTI) Bank of Baroda has raised Rs 2,474 crore by issuing bonds at the rate of 7.88 per cent through stock exchanges.
The bank allotted a total of 2,474 unsecured Basel III additional tier I perpetual non-convertible bonds, valuing Rs 1 crore each on Friday.
Also Read | Aadhaar Registration: Total 53 Lakh Fresh Aadhaar Enrolments in July 2022, Says Ministry of IT.
Perpetual bonds carry no maturity date and they can be treated as equity rather than debt. Even as such bonds are not redeemable, they pay a steady flow of interest forever.
The bonds are rated AAA with stable outlook by Icra and India Ratings, the bank said in a regulatory filing.
Also Read | Meta, Qualcomm Announce Multi-Year Agreement for Meta Quest Platform.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)