 "SBI plans to raise Rs 2,000 crore via Basel-III bonds")
India's largest lender State Bank of India plans to raise Rs 2,000 crore by allotting Basel-III compliant bonds to various investors.
"The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures... Aggregating Rs 2,000 crore to various investors," State Bank of India (SBI) said in a regulatory filing on Thursday.
SBI said the bonds will carry a coupon rate of 8.15 per cent per annum with a call option after 5 years or the anniversary date thereafter.
Shares of SBI were trading 1.67 per cent lower at Rs 302.50 on the BSE.
"The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures... Aggregating Rs 2,000 crore to various investors," State Bank of India (SBI) said in a regulatory filing on Thursday.
SBI said the bonds will carry a coupon rate of 8.15 per cent per annum with a call option after 5 years or the anniversary date thereafter.
Shares of SBI were trading 1.67 per cent lower at Rs 302.50 on the BSE.