Bank of Baroda has successfully concluded the issuance of an additional USD 400 million in Senior Unsecured Fixed Rate Notes due 2031. This issuance, priced at an all-in yield of 5.389% p.a., consolidates with its existing outstanding notes, increasing the total issue size. The bank’s credit ratings from Fitch, S&P Global, and CareEdge remain stable at BBB-, BBB, and BBB+/Stable respectively, underscoring the issuance’s strong credit standing.
Bank of Baroda Secures Additional Funding
Bank of Baroda has announced the successful conclusion of an additional issuance under its Medium Term Note (MTN) programme, raising USD 400 million through Senior Unsecured Fixed Rate Notes. The notes carry a coupon rate of 5.318% p.a., payable semi-annually, with an original maturity of 5 years. This new issuance is set to be consolidated with the bank’s existing outstanding Fixed Rate Note due 20th Aug 2031.
Key Details of the Issuance
- Instrument: Additional Senior Unsecured Fixed Rate Notes under MTN Programme.
- Issuance Amount: USD 400 million.
- Coupon Rate: 5.318% p.a. (payable semi-annually).
- Maturity: Original maturity of 5 years.
- All-in-Yield: 5.389% p.a.
- Purpose: To supplement existing outstanding Fixed Rate Notes.
Credit Rating Confirmations
The issuance has been supported by affirmed credit ratings from leading agencies:
- Fitch Ratings: BBB- (Senior Unsecured Long-Term Rating)
- S&P Global Ratings: BBB (Proposed Issue of Senior Notes due 2031)
- CareEdge Global: BBB+/Stable (Senior Unsecured Notes)
These ratings reflect the bank’s solid financial standing and its ability to meet its obligations. The notes will be listed on the Singapore Stock Exchange, India INX Gift City, and NSE -IX Exchange Gift City.
Source: BSE
