Page 2 - Bank Bonds
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.
 "Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges")
BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers
Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms
 "BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers")
SBI likely to issue Rs 7,000-cr additional tier-I bonds by August-end
Last month, SBI's board had provided approval for raising up to Rs 11,000 crore via additional tier-I and tier-II bonds to meet regulatory requirements and support business growth
 "SBI likely to issue Rs 7,000-cr additional tier-I bonds by August-end")
Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week
Union Bank plans to raise up to Rs 2,000 crore while Canara Bank plans to issue AT-1 bonds worth up to Rs 2,000 crore, say sources
 "Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week")
SBI, Canara, Bank of Baroda plan to raise Rs 7,500 crore through AT-1 bonds
IOB also likely to tap debt capital market, say sources, though quantum of fund-raising being planned isn't clear
 "SBI, Canara, Bank of Baroda plan to raise Rs 7,500 crore through AT-1 bonds")
PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%
Gains from easing bond yields worldwide; better rate comes against indicative yield of 9-9.25%
 "PNB raises Rs 2,000 crore via AT1 capital bonds at lower rate of 8.75%")
HDFC Bank plans to raise up to Rs 5,000 cr in capital via AT1 bonds
The lender will separately raise up to Rs 5,000 crore through infrastructure bonds carrying "AAA" rating.
 "HDFC Bank plans to raise up to Rs 5,000 cr in capital via AT1 bonds")
Canara Bank raises Rs 1,000 cr through Basel-III compliant AT-1 bonds
The bonds carry coupon rate of 8.07 per cent per annum
 "Canara Bank raises Rs 1,000 cr through Basel-III compliant AT-1 bonds")
Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds
The bank has allotted unsecured, subordinated, non-convertible, taxable, perpetual, fully paid-up Basel III compliant additional tier-I bonds in the nature of debentures, aggregating to Rs 1,500 crore
 "Union Bank of India raises Rs 1,500 cr through Basel-III compliant bonds")
Ugro Capital raises Rs 150 cr by issuing bonds on private placement basis
The company's Investment and Borrowing Committee has approved the allotment of 150 protected market linked non-convertible debentures
 "Ugro Capital raises Rs 150 cr by issuing bonds on private placement basis")
HDFC Bank plans to raise funds via AT-1 bonds from overseas market
The bank is expected to raise up to $1 billion from dollar-denominated bonds
 "HDFC Bank plans to raise funds via AT-1 bonds from overseas market")
Lazy banking: Banks' bond investment surpasses loans
Standard Chartered's Sahay said the gap between investments and advances will narrow only gradually
 "Lazy banking: Banks' bond investment surpasses loans")
Bank of India to issue Basel III compliant bonds to raise up to Rs 750 cr
Bank of India on Wednesday said it will raise up to Rs 750 crore by issuing Basel III compliant bonds.
 "Bank of India to issue Basel III compliant bonds to raise up to Rs 750 cr")
SBI board to consider raising up to $1.5 bn by issuing bonds this fiscal
SBI said the capital is proposed to be raised through public and/or private placement of senior unsecured notes in US dollar or any other convertible currency during 2020-21
 "SBI board to consider raising up to $1.5 bn by issuing bonds this fiscal")
YES Bank fallout: AT-1 bonds see spike in yields post RBI's proposed scheme
State Bank of India's bonds see 130 basis points jump in yields since Friday
 "YES Bank fallout: AT-1 bonds see spike in yields post RBI's proposed scheme")
Tipping Point: Should you allocate more to corporate, govt bond schemes?
If you are tempted to increase your allocation to schemes C and G based on past year's returns, avoid doing so
 "Tipping Point: Should you allocate more to corporate, govt bond schemes?")
Bank of Baroda to raise Rs 5,500 crore capital through bonds, ESOP
CEO Jayakumar said the bonds were likely to be floated by August-end or the first week of September to raise tier II/tier I capital
 "Bank of Baroda to raise Rs 5,500 crore capital through bonds, ESOP")
Reserve Bank of India allows banks to spread bond losses
To absorb such losses in future, the central bank instructed banks to create an Investment Fluctuation Reserve (IFR) from the start of the current fiscal
 "Reserve Bank of India allows banks to spread bond losses")
Banks are going slow in purchasing bonds ahead of the Union Budget
The market at present expects the borrowing programme to be Rs 6-6.6 trillion on a gross basis, higher by about Rs 500 billion from last year
 "Banks are going slow in purchasing bonds ahead of the Union Budget")
In a first, Yes Bank to sell bonds worth $300 million through IFSC unit
According to an investment banker working on the issue, the drawdown will be from Yes Bank's IFSC banking unit at the Gujarat International Finance Tec-City (Gift City)
 "In a first, Yes Bank to sell bonds worth $300 million through IFSC unit")
