BOB proposes Tier II Bond issue

Bank of Baroda (BOB) has announced that with a view to augmenting its capital, the Bank proposes to issue fresh 116 months Unsecured Non Convertible Redeemable, Subordinated Bonds (Lower Tier II Bonds - Series VI) of the face value of Rs 1/- million each for cash aggregating up to Rs 10000 million (Rs 5000 million with Green Shoe option of Rs 5000 million) in the first week of September 2006 on Private Placement basis at a fixed coupon of 8.95% pa. with a view to augment the capital of the Bank. The Issue has been rated (1) "AAA/Stable" by CRISIL and (2) "LAAA" by ICRA. The Bonds will be listed on NSEIL and BSE. IDBI Trusteeship Services Ltd will be the trustee to the Bond issue.

Source : Equity Bulls

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