Mumbai, March 12 -- Public lender Bank of Baroda has raised a USD 500 million five-year syndicated term loan through its International Financial Services Centre (IFSC) Banking Unit in Gujarat International Finance Tec-City (GIFT City), according to an official statement issued here today.
Proceeds from the facility will be used for general banking and corporate purposes, according to the statement.
The term loan raising saw participation from 13 investors across Asian markets including Taiwan, South Korea, Japan and Singapore.
According to the statement, the transaction aims to broaden its global investor base, increasing participation from investors in Asia. It also aims to diversify its funding sources alongside its domestic investor b...