📱 2022-08-29 05:07:00 – Paris/France.
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MUMBAI, Aug 29 (Reuters) - India's Bank of Baroda (BOB.NS) plans to raise at least 5 billion rupees ($62,52 million) from the sale of additional Basel III-compliant Tier I perpetual bonds , three investment bankers said on Monday.
The state-run lender invited coupon and pledge offers from bankers and investors on Tuesday, they said.
The bonds are rated AA+ by ICRA and India Ratings.
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It has a purchase option after five years and will also have an over-indebtedness option to keep another 20 billion rupees.
Earlier this month, the bank raised 10 billion rupees through the sale of seven-year infrastructure bonds.
($1 = 79,9740 Indian rupees)
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Reporting by Dharamraj Lalit Dhutia; Editing by Neha Arora
Our standards: The Thomson Reuters Trust Principles.
SOURCE: Reviews News
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