 "Bank of Baroda raises $ 750 million")
State-run Bank of Baroda (BOB) raised $ 750 million through 5.5 year Reg S bonds priced at US treasury plus 325 basis points on Wednesday. The notes are issued by BOB, London Branch and are rated “Baa3” by Moody’s and “BBB-” by Fitch.
The issue was almost 6 times oversubscription with strong participation from investors in Asia, Europe and the United States.
“We are pleased to receive the overwhelming response from investors to our first 144A/ Reg S Bond transaction. The strong order book and the competitive pricing is testimony to the credibility and strength of our franchise amongst the global investor base," said SS Mundra, chairman & managing director of the bank.
Bank of Baroda set out to create a benchmark transaction and is pleased to have demonstrated, yet again, the strong interest in Indian issuers across the global capital markets, he adds.
The issue was almost 6 times oversubscription with strong participation from investors in Asia, Europe and the United States.
“We are pleased to receive the overwhelming response from investors to our first 144A/ Reg S Bond transaction. The strong order book and the competitive pricing is testimony to the credibility and strength of our franchise amongst the global investor base," said SS Mundra, chairman & managing director of the bank.
Bank of Baroda set out to create a benchmark transaction and is pleased to have demonstrated, yet again, the strong interest in Indian issuers across the global capital markets, he adds.