 "Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges")
Bank of Baroda has raised Rs 2,474 crore by issuing bonds at the rate of 7.88 per cent through stock exchanges.
The bank allotted a total of 2,474 unsecured Basel III additional tier I perpetual non-convertible bonds, valuing Rs 1 crore each on Friday.
Perpetual bonds carry no maturity date and they can be treated as equity rather than debt. Even as such bonds are not redeemable, they pay a steady flow of interest forever.
The bonds are rated AAA with stable outlook by Icra and India Ratings, the bank said in a regulatory filing.
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