Public sector lender Bank of Baroda said on Monday it will raise Rs 5,000 crore through the issuance of long-term infrastructure bonds.

The bank said in a regulatory filing that its board approved a proposal to issue long-term bonds worth Rs 5,000 crore to fund infrastructure projects and affordable housing at a meeting on Monday.

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The funding will be raised in a single or multiple tranches over the 2022-23 financial year. It said the bonds shall be senior, unsecured and not part of the bank’s capital. Shares in Bank of Baroda on the BSE closed at Rs 99.95 per share on Monday.