State Bank of India raises Rs 1,251 crore by Basel III bonds

New Delhi: State Bank of India (SBI) on Friday said it has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds. “The Committee of Directors for Capital Raising at its meeting held on Friday deliberated and accorded approval to allot 12,513 non-convertible, taxable, perpetual, subordinated, unsecured Basel lll-compliant additional tier-I bonds, for inclusion in additional tier-I capital of the bank…aggregating to Rs 1,251.30 crore,” SBI said. The bonds with a face value of Rs 10 lakh each bears a coupon rate of 9.45 per cent per anum payable annually with call option after 5 years or any anniversary date.

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