Bank of Baroda raises ₹10,000cr via green bonds
Business
Bank of Baroda (BoB) just raised ₹10,000 crore by selling its first-ever Green Infrastructure Bonds.
These seven-year bonds, offering a 7.10% annual return and maturing in 2033, drew huge interest—investors bid over ₹16,000 crore.
BoB's green bonds get AAA ratings
BoB's green bonds scored 'AAA/Stable' ratings from CARE and ICRA, signaling strong trust in the bank's stability.
This is also the first time any Indian bank has issued domestic green infrastructure bonds—a pretty big milestone.
Funds will be used to support India's infrastructure needs
The money raised will support India's infrastructure needs.
BoB says it wants to back sustainable development and support a transition to a cleaner, greener and more sustainable future.