INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Bank of Baroda (BoB) shared surged nearly 2 per cent in morning trade on Thursday after reports suggested that the bank is
planning to raise funds by selling bonds overseas.
As per an ET report, Bank of Baroda is set to raise up to $1 billion by selling bonds
overseas to solidify its capital position ahead of a likely jump in credit demand
The bond sale would be known as Regulation S in market parlance, whereby bonds are offered to investors outside the US
The bond sale is likely to open for subscription before this financial year comes to a close on March 31, the report further added.
Fitch
Ratings has assigned an expected rating of 'BBB-(EXP)' to Bank of Baroda's proposed senior unsecured notes, which will be issued by the
bank's London branch, the global rating company had said in a release on Monday
In the past six months, Bank of Baroda shares surged more than 16 per cent on the BSE amid signs of improving asset quality
Around 9:50 am, shares of the company traded 1.60 per cent higher at Rs 123.50 apiece
