Bank of Baroda to raise up to Rs 1,285 cr via Basel III bonds

New Delhi: Bank of Baroda Wednesday said its board has approved raising up to Rs 1,285 crore by issuing Basel III compliant bonds.

In two separate decisions, the committee of the bank approved issuance of tier II capital bonds compliant with Basel III capital regulations of Rs 1,000 crore, with a base issue size of up to Rs 250 crore and a green shoe option to retain oversubscription up to Rs 750 crore in single or multiple tranches, the bank said in a regulatory filing.

Additionally, the committee also approved "issuance of tier II capital bonds compliant with Basel III capital of Rs 285 crore, with a base issue size up to Rs 100 crore with a green shoe option to retain oversubscription up to Rs 185 crore," the bank added.

Shares of the state owned bank closed 3.16 percent down at Rs 119.40 apiece on the BSE.