State Bank of India raises Rs 3104.80 cr thru allotment of AT1 bonds

State Bank of India announced that the Committee of Directors for capital Raising at its meeting held today on 30 August 2019 has accorded approval to allot 31,048 Non-Convertible, Taxable, Perpetual, Subordinated, Unsecured Basel III compliant AT1 Bonds, for inclusion in AT1 Capital of the Bank, in the nature of debentures of face value of Rs. 10 lakh each, at par, bearing coupon of 8.75% p.a. payable annually with call option after 5 years or any anniversary date thereafter, aggregating to Rs. 3,104.80 crore to the Bond subscribers on 30 August 2019.

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