Bank of Baroda sells 5 bln rupees of tier-II bonds

Bank of Baroda has raised 5 billion rupees via upper Tier-II bonds, the bank told the Bombay Stock Exchange today.

Bank of Baroda has raised 5 billion rupees via upper Tier-II bonds, the bank told the Bombay Stock Exchange on Friday.

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The 15-year notes pay a coupon of 8.48 percent, which will rise to 8.98 percent if a call option is not exercised at the end of the tenth year. The paper is rated 'AAA' by Crisil and CARE.

Standard Chartered Bank and BOB Capital Markets were arrangers to the issue.