The latest fundraising forms part of the bank’s broader medium-term programme. It follows another overseas debt issue, showing that the bank has used this programme for more than one transaction. The report does not state when the earlier issue took place.

At $400 million, the new issue is $100 million larger than the previous one mentioned in the report. These figures describe the two fundraising transactions; the report does not provide a total for Bank of Baroda’s outstanding overseas debt or the overall size of its medium-term programme.

The details available establish the amount raised, the five-year tenor and the senior unsecured structure. The interest rate, issue price, investor breakdown and listing venue have not been stated. Without pricing information, the report does not establish how the cost of this borrowing compares with the earlier issue.

The report also does not specify how the proceeds will be used. Its central update is the addition to Bank of Baroda’s overseas debt portfolio, rather than an announcement about domestic lending or branch operations.