Bank of Baroda raises Rs 2,500 crore at a coupon rate of 7.75% on 10-year Basel-III bonds

 Bank of Baroda raises Rs 2,500 crore at a coupon rate of 7.75% on 10-year Basel-III bonds

Similarly, the 10-year bonds with a 7.65% yield were issued by the Indian Renewable Energy Development Agency (IREDA) to generate Rs 1,000 crore.

According to market reports, public sector Bank of Baroda has generated Rs 2,500 crore by issuing Basel-III tier-II bonds with a 10-year maturity and a yield rate of 7.75 percent.

According to reports, the lender got bids for Rs 2,500 crore at a coupon rate of 7.75 percent and Rs 1,000 crore at a rate of 7.70 percent.

The term sheet said that Bank of Baroda's base issue was worth Rs 1,000 crore, with Rs 1,500 crore in retained oversubscription. Companies may issue bonds or raise more money than the initial issue size with the use of the over-allotment option known as Greenshoe.

In addition, the 10 years, 4 months, and 7 days bonds offered by National Bank for Agricultural and Rural Development (NABARD) collected Rs 10,000 crore at a coupon rate of 7.65 percent.

Similarly, the 10-year bonds with a 7.65% yield were issued by the Indian Renewable Energy Development Agency (IREDA) to generate Rs 1,000 crore.

IREDA's bond offering comprised of Rs 500 crore in base issue and Rs 1,500 crore in greenshoe, whereas NABARD had Rs 5,000 crore in both base issue and greenshoe option.

Bids of Rs 3,500 crore at 7.63 percent, Rs 5,000 crore at 7.64 percent, and Rs 10,000 crore at 7.66 percent were reportedly received by NABARD.

Kerala Infrastructure Investment Fund Board (KIIFB) and Small Industries Development Bank of India (SIDBI) will sell bonds worth a combined Rs 6,499.96 crore on December 21.

According to the institutions' term sheets, SIDBI would raise up to Rs 5,000 crore of the total, including Rs 3,500 crore in greenshoe, while KIIFB will fund Rs 1,499.96 crore.