Bank of Baroda to raise Rs 50 billion via long-term infrastructure bonds

The Public sector lender Bank of Baroda will raise Rs 50 billion by issuing long-term infrastructure bonds. The board of directors approved the proposal of issuing long-term bonds for financing infrastructure projects and affordable housing worth Rs 50 billion. The money will be raised in single or multiple tranches during financial year 2022-23. These bonds shall be senior, unsecured and will not form part of the bank’s  capital.