Monday, 26 August 2019

Bank of Baroda board approves to raise Basel III complaint Tier 1 bonds upto Rs 1650 crores.



Bank of Baroda (BoB) board - Capital Raising Committee of the bank has approved Issuance of Basel III Compliant Additional Tier I Bonds for aggregate total issue size not exceeding Rs1,650cr, with a base issue size of Rs500cr and a Green Shoe Option to retain over-subscription up to Rs1,150cr.

Further, the Bank of Baroda board said that issuance of Basel III Compliant Tier II Capital Bonds Compliant with Basel III Capital regulations of the Reserve Bank of India for aggregate total issue size not exceeding R500cr, with a base issue size of Rs250cr and a Green Shoe Option to retain oversubscription up to Rs250cr.

According to the Mint report, the bank plans additional exposure of Rs10,675cr to NBFCs in the second quarter of FY20. The bank is also looking to purchase NBFC assets worth Rs5,600cr, co-originate loans of Rs1,000cr, provide loans of Rs3,575cr for on-lending to the Agri sector and has set aside Rs500cr for “high-ticket balance sheet takeover".

After the announcement, the shares of Bank of Baroda traded on NSE index was more than 3% up at Rs 98.

Source: Bombay Stock Exchange.

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