Bank
SBI raised Rs 5000 crores by issuing Basel-III compliant bonds
State Bank of India (PSUConnect)
New Delhi: The biggest state lender, State Bank of India has raised Rs 5,000 Crores on Monday by issuing Basel-III compliant bonds. The directors of the committe approved to allot the cappital raising.
Bank Mentions that, the debentures qualifying as tier II capital of the bank of face value of Rs 10 lakh each, at par, bearing a coupon of 5.83 per cent aggregating to Rs 5,000 crore were allotted to bond subscribers on October 26, 2020.
The interest on the bonds will be paid annually for a tenor of 10 years and call option after 5 years and on anniversary date thereafter, the country's largest lender said.
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