New Delhi, Jul 16 (PTI) Bank of Baroda will raise Rs 1,000 crore debt capital by issuing long-term bonds to cater to the financing requirement in the infrastructure sector.

The lender has received approval from its Investment Committee in a meeting held on Saturday.

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"The Investment Committee of the Bank of Baroda in its meeting held on July 16, 2022 has approved raising of Rs 1,000 crore towards long-term bonds for financing of infrastructure and affordable housing, out of the board approved limit of Rs 5,000 crore," Bank of Baroda said in a regulatory filing.

The lender intends to raise Rs 5,000 crore to cater to the infrastructure and affordable housing in multiple tranches during the financial year 2022-23.

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These bonds will be senior, unsecured in nature and will not form part of the capital of the bank.

(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)