Bank of Baroda to raise Rs 5,000 crore via long-term infra bonds

Public sector lender Bank of Baroda on Monday said it will raise Rs 5,000 crore by issuing long-term infrastructure bonds. The board of directors in its meeting held on Monday approved the proposal of issuing long-term bonds for financing infrastructure projects and affordable housing worth to the tune of Rs 5,000 crore, the bank said in a regulatory filing.

The money will be raised in single or multiple tranches during financial year year 2022-23.

These bonds shall be senior, unsecured and will not form part of capital of the bank, it said.

Bank of Baroda stock closed flat at Rs 99.95 apiece on BSE on Monday.