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Friday, August 4, 2017

SBI plans to raise Rs 2,000 cr via Basel-III bonds

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,” SBI said in a regulatory filing on thursday.

The country's largest lender 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.

SBI shares were trading 1.67 per cent lower at Rs 302.50 on the the BSE

Source : Thehindubusinessline


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