The country’s largest lender, SBI, today said it has raised Rs 500 crore from issue of bonds on a private placement basis.
“The bank on March 21, 2016 issued 5,000 Basel III compliant, tier-ll bonds in the nature of debentures of face value of Rs 10,00,000 each at par with 10-year tenure, bearing 8.45 per cent per annum coupon payable annually and with a call option after 5 years aggregating Rs 500 crore on a private placement basis,” State Bank of India said in a BSE filing.
The fund raised is part of SBI’s Rs 12,000-crore debt capital.
Last week, the public sector lender had raised Rs 3,000 crore on a private placement basis.
Earlier, on March 9, the SBI board had approved raising the remaining Rs 5,000 crore of the Rs 12,000-crore fund-raising programme.
The SBI stock was trading down by 0.31 per cent at Rs 196.05 in the afternoon trade on BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.