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SBI to raise Rs 500-cr via bonds

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Press Trust of India Mumbai
Last Updated : Aug 07 2009 | 3:28 PM IST

State Bank of India (SBi) plans to raise Rs 500-crore via perpetual bonds, a senior bank official said.

"We plan to raise Rs 500-crore at 9.10 per cent," the public sector lender's Deputy Managing Director and CFO S S Ranjan told reporters here today.

"We will place it with SBI Pension Fund," he said.

This would not dilute the equity capital but would add to the bank's Tier I capital, he said.

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First Published: Aug 07 2009 | 3:28 PM IST

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