SBI raises Rs 3,000 crore through private placement

The country's largest lender, SBI, today said it has raised Rs 3,000 crore on a private placement basis.
The bank has issued 30,000 Basel-III compliant, tier-ll bonds in the nature of debentures, it said in a BSE filing.
The debentures have a face value of Rs 10 lakh each at par, with a 10-year tenure, bearing 8.45 per cent per annum coupon payable annually and with a call option after 5 years, aggregating Rs 3,000 crore on a private placement basis, it added.
The fund raised is part of SBI's Rs 12,000 crore debt capital.
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.

With merger of all the five associates and BMBL, SBI will

become a global-sized bank and could compete with the largest in the world, with an asset base of Rs 37 trillion (Rs 37 lakh crore) or over USD 555 billion, with 22,500 branches and 58,000 ATMs. It will have over 50 crore customers.
SBI has close to 16,500 branches, including 191 foreign offices spread across 36 countries.
It first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged.
On Thursday, the SBI stock closed at Rs 248.20, up 0.79 per cent on BSE. SBBJ shares ended the day at Rs 673.30 a piece, up 3.49 per cent while those of SBM were up 2.06 per cent at Rs 621.70.

State Bank of Patiala and State Bank of Hyderabad are not listed.