State Bank of India announced that the Committee of Directors for Capital Raising at its meeting held on 21 December 2018 deliberated and accorded approval to allot 20,450 Non-Convertible, Taxable, Perpetual, Subordinated, Unsecured Basel III compliant Additional Tier 1 Bonds, for inclusion in Additional Tier 1 Capital of the Bank, in the nature of debentures of face value of Rs. 10 lacs each, at par, bearing coupon of 9.37% p.a. payable annually with call option after 5 years or any anniversary date thereafter, aggregating to Rs. 2,045 crore (Rupees two thousand forty five crore only) to the Bond subscribers on 21 December 2018.
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