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Bank of Baroda raises 8.5B rupees of capital, names new CFO

Bank of Baroda raised 8.5 billion Indian rupees through an issuance of bonds and named a new chief financial officer.

The Basel III-compliant Additional Tier 1 bonds were priced with a coupon of 8.65%. They were issued Aug. 9 and allotted Aug. 11.

The Indian lender also named Ramesh Gopalaratnam as its new CFO, effective Aug. 14. He replaces Sanjay Kumar, according to a separate release.

As of Aug. 11, US$1 was equivalent to 64.14 Indian rupees.