SBI Cards and Payment Services raises Rs 455 crore by issuing bonds

SBI Cards and Payment Services (SBI Card) on Monday said it has raised Rs 455 crore by issuing bonds.

The stakeholders' relationship committee of the company has approved the allotment of 4,550 fixed-rate, unsecured, rated, taxable redeemable, senior, non-convertible debentures, SBI Card said in a regulatory filing.

Under this, the company will issue bonds (NCDs) of the face value of Rs 10 lakh each aggregating to Rs 455 crore on a private placement basis, it added.

The bonds with a maturity date of May 10, 2024, will offer coupons at 5.70 per cent per annum.

SBI Card said it will list the bonds on the wholesale debt market segment of BSE. The scrip of the company closed 0.55 per cent down at Rs 976.90 apiece on BSE.