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Bank of Baroda cancels plan to sell bonds

Bank of Baroda cancels plan to sell bonds
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First Published: Fri, Feb 05 2010. 10 54 PM IST
Updated: Fri, Feb 05 2010. 10 54 PM IST
Hong Kong/Singapore: Bank of Baroda has cancelled its planned benchmark sale of bonds denominated in dollars, according to three people familiar with the matter.
The people didn’t say whether the sale will be rescheduled, nor did they provide further details.
The bank had planned to sell five-year notes priced to yield about 250 basis points over the benchmark mid-swap rate, people familiar with the deal said, declining to be identified before a public announcement.
A benchmark sale is typically $500 million (Rs2,330 crore) in size.
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First Published: Fri, Feb 05 2010. 10 54 PM IST
More Topics: Bank of Baroda | Bonds | Money Matters | Bonds |