Bank of Baroda Issues Green Bonds

Bank of Baroda has successfully raised 10,000 crore rupees through the issuance of Series I Long-Term Green Infrastructure Bonds, becoming the first bank in India to issue domestic Green Bonds. The seven-year bond issue garnered overwhelming investor demand, receiving bids aggregating 16,415 crore rupees, more than three times the base issue size. Despite market volatility, Bank of Baroda secured a competitive cut-off coupon of 7.10 percent, reflecting strong investor confidence. The proceeds from these bonds will be used to finance eligible green projects under Bank of Baroda's Green Financing Framework, including renewable energy and sustainable infrastructure, supporting India's transition towards a cleaner future. The bonds have been rated 'AAA' with a stable outlook by CARE ESG Ratings Limited and ICRA Limited, placing them in the highest safety category for domestic debt instruments.