Saturday, March 10, 2007
Bank Of Baroda - Establishment Of Medium Term Note Programme (MTN) In Foreign Currency For Long Term
Bank of Baroda has informed that the Bank is in the process of establishing a Medium Term Note Programme up to USD 1.5 billion. Under the MTN Programme, the Bank will issue foreign currency bonds in International market from time to time depending upon its funds requirements through Banks London / Nassau or any other foreign branch. These bonds will be listed on Singapore Stock Exchange. The brief particulars are given below:1. The Bank would be issuing various senior / junior subordinated (inclusive of Upper Tier II and Hybrid Tier I bonds pursuant to RBI guidelines) / other debt instruments (Bonds) from time to time of medium / long term under the said programme. This is in terms of Banks endeavor to strengthen its Capital Adequacy Ratio (CAR) in the long run and also to meet its long term funding requirements.2. The Bank has appointed Barclays Capital, Citigroup and Deutsche Bank as Joint Lead Managers. The Bank has signed various documents for the establishment of the programme and also for engagement of the Lead Managers / other intermediaries for the said programme on March 07, 2007.
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