State-owned Bank of Baroda announced that it has successfully raised Rs 50 billion through the issuance of long-term infrastructure bonds. The ten-year bonds were issued at a coupon rate of 7.30%, according to an official statement.

In recent times, several Indian banks, including SBI, have utilised infrastructure bonds to raise funds.

The bond issuance attracted 146 bids totalling over Rs 150 billion. The bank chose to accept Rs 50 billion in bids. The initial base issue was Rs 20 billion, with an additional Rs 30 billion retained through a greenshoe option. (ET)