SBI To Mop Up Rs. 2000 Crores Via Basel-III Bonds

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    In a regulatory filing the largest state-run lender announced today "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 To Mop Up Rs. 2000 Crores Via Basel-III Bonds

    The state-run bank is planning to mop up funds to the tune of Rs. 2000 crore by issuing Basel-III compliant bonds to several categories of investors.

    Further the bank in regard to the return or coupon rate on bonds said that these bonds will earn a coupon rate of 8.15% on an annual basis and would feature a call option after 5 years time or anniversary date therafter. The shares of the bank were trading lower by2.26% at 300.7 Rs. At 3:05 pm on BSE.

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    Read more about: sbi basel iii bonds coupon rate
    Story first published: Thursday, August 3, 2017, 15:14 [IST]
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