Bank of Baroda Wednesday said its board has approved raising up to Rs 1,285 crore by issuing Basel III compliant bonds.In two separate decisions, committee of bank approved issuance of tier II capital bonds compliant with Basel III capital regulations of Rs 1,000 crore, with a base issue size of up to Rs 250 crore and a green shoe option to retain oversubscription up to Rs 750 crore in single or multiple tranches, bank said in a regulatory filing.Additionally, committee also approved "issuance of tier II capital bonds compliant with Basel III capital of Rs 285 crore, with a base issue size up to Rs 100 crore with a green shoe option to retain oversubscription up to Rs 185 crore," bank added.Shares of state owned bank closed 3.16 per cent down at Rs 119.40 apiece on BSE.