Bank of Baroda has raised a $500 million five-year syndicated term loan through its IFSC Banking Unit in GIFT City, attracting participation from 13 investors across key Asian markets including Taiwan, South Korea, Japan and Singapore.
The transaction reflects strong investor demand for the bank’s global funding programme despite a dynamic global interest rate environment. The facility also supports the bank’s strategy to broaden its international investor base while diversifying its funding sources.
The syndicated loan marks Bank of Baroda’s return to the global syndicated loan market after a gap of one year. According to the bank, the proceeds from the facility will be used for general banking and corporate purposes.
MUFG Bank and HSBC acted as Mandated Lead Arrangers, Underwriters and Bookrunners for the transaction.
“This successful transaction reinforces the confidence that global institutions place in Bank of Baroda’s prudent financial management and long-term strategic direction,” said Dr. Debadatta Chand, Managing Director and CEO, Bank of Baroda.
He added that strong participation from Asian investors highlights growing international interest in the bank and supports its focus on diversifying funding sources and strengthening global investor engagement.
Bank of Baroda currently maintains strong international credit ratings. S&P Global Ratings has assigned the bank a ‘BBB’ long-term and ‘A-2’ short-term issuer credit rating with a stable outlook, in line with the sovereign rating of the Government of India. Fitch Ratings has assigned a ‘BBB-’ rating with a stable outlook and recently upgraded the bank’s viability rating to ‘bb’ from ‘bb-’. Moody’s Investors Service has also assigned the bank a ‘Baa3’ rating with a stable outlook.
Bank of Baroda operates a significant international network with 80 overseas branches and offices across 15 countries, including major financial centres such as New York, London, Dubai and Singapore.
The bank’s total international business stood at Rs 4,879.08 billion, accounting for 16.08 percent of its global business. International deposits were Rs 2,395.60 billion, while international advances stood at Rs 2,483.48 billion.
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