Bank of Baroda plans to raise up to Rs 15,000 crore via bonds to fund its business growth.

The state-owned bank’s capital raising committee met earlier today and decided to raise Rs 5,000 crore through tier-II bonds and Rs 10,000 crore through infrastructure bonds.

“The capital raising committee of the bank in its meeting held on Saturday has approved the issuance of Rs 2,000 crore tier II/sub-debt bond with the greenshoe option to raise another Rs 3,000 crore totalling Rs 5,000 crore (10 years with a call option at the end of five years),” Bank of Baroda said in a regulatory filimg.

“The bank has further decided to issue infrastructure bonds amounting to Rs 2,000 crore with a greenshoe option to raise an additional Rs 8,000 crore totalling the issue size of Rs 10,000 crore (tenure up to seven years),” the lender said.