India New Issue-Bank of Baroda to issue 15-year Tier II bonds, bankers say
MUMBAI, Nov 22 (Reuters) -India's Bank of Baroda BOB.NS plans to raise 35 billion rupees ($414.60 million), which includes a 25 billion rupee greenshoe option, through the sale of Basel III-compliant Tier II bonds maturing in 15 years, three bankers said on Friday.
The state-run lender has invited coupon and commitment bids from bankers and investors for Wednesday, the bankers added.
The bonds have a call option at the end of 10 years, they said.
The bank did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on Nov. 22
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Bank of Baroda | 15 years | To be decided | 10+25 | Nov. 27 | AAA (Crisil, India Ratings) |
LIC Housing Oct 2029 reissue | 4 years and 11 months | 7.65 (yield) | 10 | Nov. 22 | AAA (Crisil, Icra) |
ICICI Home Finance | 3 years and 3 months | To be decided | 3.50+0.50 | Nov. 25 | AAA (Crisil) |
ICICI Home Finance | 10 years | To be decided | 1+1.50 | Nov. 25 | AAA (Crisil) |
Mindspace Business Parks REIT | 3 years and 2 months | To be decided | 5 | Nov. 25 | AAA (Crisil, Icra) |
Ultratech Cement | 10 years | 7.22 | 10 | Nov. 25 | AAA (Crisil, India Ratings) |
*Size includes base plus greenshoe for some issues
($1 = 84.4190 Indian rupees)
Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan
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