Bank of Baroda hits a 52-week high after raising tranche I of Basel III complaint Tier II bonds

Bank of Baroda Share Price: Bank of Baroda shares hit a 52-week high of Rs 227.50 on BSE on Monday (December 18, 2023) after the lender approved raising of tranche I of Basel III complaint Tier II bonds with a base issue size of Rs. 1,000 crore.

The stock of the bank was trading higher by 0.20 per cent, or Rs 0.45, at Rs 225.00 at 2:26 pm on Monday. 

"The Capital Raising Committee of the Bank has approved raising of tranche I of Basel III complaint Tier II bonds with a base issue size of Rs. 1000 crore with a greenshoe option to retain oversubscription up to Rs.1500 crore, totaling Rs. 2500 crore (Maturity of 10 years with a call of option at the end of 5 year)," said Bank of Baroda in a statement after market hours on Friday. 

Crisil rating

Recently, Crisil also reaffirmed a 'stable' rating on the lender's Rs 5,000 crore Tier II Bonds (under BASEL III). 

"We advise that CRISIL has assigned ‘CRISIL AAA/Stable’ rating to Rs. 5000 Crore Tier II Bonds (under BASEL III) and has reaffirmed its rating on the existing debt
instruments at 'CRISIL AAA/CRISIL AA+/Stable'," said Bank of Baroda.