You are here: Home » Companies » News
Business Standard

SBI to raise Rs 3,500 cr via tier I bonds to strengthen capital adequacy

Rating agency ICRA has assigned a rating of AA+ (hyb) with stable outlook for the Basel III-compliant tier-I bonds

Abhijeet Lele 

SBI plans to mop up Rs 5,000-crore debt capital via tier-II bonds

plans to raise up to Rs 3,500 crore through additional tier I ( AT-I) bonds to strengthen capital adequacy and support building loan portfolio.

Rating agency ICRA has assigned a rating of AA+ (hyb) with stable outlook for the Basel III-compliant tier-I bonds.

The letters ‘hyb’ indicate that this is rated hybrid subordinated instrument with equity-like loss-absorption features. These tier-I bonds are expected to absorb losses through the write-down mechanism.

First Published: Mon, November 11 2019. 23:56 IST
RECOMMENDED FOR YOU