Bank of Baroda raises $500 million syndicated term loan

Bank of Baroda Ltd said it has raised a $500 million five-year syndicated term loan facility through its IFSC Banking Unit in GIFT City. “The transaction saw participation from 13 investors across key Asian markets including Taiwan, South Korea, Japan and Singapore, reflecting robust demand and strong investor appetite, despite a dynamic global interest rate environment.” the bank said.

This transaction marks the bank’s return to the global syndicated loan market after a gap of one year. The proceeds of the facility will be used for general banking and corporate purposes. MUFG Bank and HSBC acted as Mandated Lead Arrangers, Underwriters, and Bookrunners, it said.

Debadatta Chand, Managing Director & CEO, Bank of Baroda said, “This successful transaction reinforces the confidence that global institutions place in Bank of Baroda’s prudent financial management and long-term strategic direction.”

“The strong participation from investors across Asia reflects growing international interest in the bank and supports our continued focus on diversifying funding sources, strengthening global investor engagement and further cementing our standing as India’s international bank,” he added.