By Devika Patel
Knoxville, Tenn., Jan. 29 - Bank of Baroda notified the Bombay Stock Exchange that it has priced Rs. 2 billion of 8.9% non-convertible subordinated perpetual bonds.
The 15-year bonds may be called in 10 years.
If the bonds are not called, the coupon will step up to 9.4%.
The notes will be offered in denominations of Rs. 1 million each.
Vadodara, India-based Bank of Baroda provides banking services.
| Issuer: | Bank of Baroda
|
| Issue: | Non-convertible, subordinated perpetual bonds
|
| Amount: | Rs. 2 billion
|
| Maturity: | 15 years
|
| Coupon: | 8.9%, steps up to 9.4% if not called after 10 years
|
| Price: | Par of Rs. 1 million
|
| Yield: | 8.9%
|
| Call: | 10 years
|
| Pricing date: | Jan. 29
|
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