Bank of Baroda raises $700 million in bond issuance
Bank of Baroda raised $700 million through a dual-tranche bond issuance, attracting $2.67 billion in orders. The three-year tranche was priced at 5.114% and the five-year at 5.318%, reflecting strong investor demand.
after close1 source ↓written by the desknot a recommendation
- through a dual-tranche
- $700 million
- Medium-Term Note Programme
- $4 billion
- order book
- $2.67 billion
- the issue size
- 3.8 times
- three-year tranche raised
- $400 million
Bank of Baroda has successfully raised $700 million through a dual-tranche overseas bond issuance, part of its $4 billion Medium-Term Note Programme. The issuance attracted strong investor interest, with an order book of $2.67 billion, nearly 3.8 times the issue size.
- The three-year tranche raised $400 million at 5.114% coupon.
- The five-year tranche secured $300 million at 5.318% coupon.
This strong demand allowed the bank to tighten pricing significantly from initial guidance, enhancing its funding strategy.
Not investment advice. For informational purposes only.