Linklaters and JSA advised on Bank of Baroda’s US$700 million overseas bond issuance.
Bank of Baroda has raised US$700 million (₹6,580 crore) through a dual-tranche overseas bond issuance, comprising US$300 million of three-year bonds and US$400 million of five-year bonds. The transaction marks the bank’s first overseas bond issuance since 2019.
The bonds will be listed on the India International Exchange (IFSC) Limited (India INX), NSE International Exchange (NSE-IX) and Singapore Exchange (SGX-ST).
The issuances received a strong response from investors, with the order book peaking at USD 2.67 billion, representing demand of nearly 3.8 times the final issue size.
JSA advised Bank of Baroda, the issuer, on this transaction.
Linklaters Singapore advised the arrangers and dealers of the transaction, Citigroup, HSBC, MUFG Securities Asia, Singapore Branch and Standard Chartered Bank on the deal.
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