State Bank of India allots Tier I Bonds aggregating Rs 2045 crore

State Bank of India announced that the Committee of Directors for Capital Raising at its meeting held on 21 December 2018 deliberated and accorded approval to allot 20,450 Non-Convertible, Taxable, Perpetual, Subordinated, Unsecured Basel III compliant Additional Tier 1 Bonds, for inclusion in Additional Tier 1 Capital of the Bank, in the nature of debentures of face value of Rs. 10 lacs each, at par, bearing coupon of 9.37% p.a. payable annually with call option after 5 years or any anniversary date thereafter, aggregating to Rs. 2,045 crore (Rupees two thousand forty five crore only) to the Bond subscribers on 21 December 2018.

Powered by Capital Market - Live News