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State Bank of India approves allotment of AT 1 bonds aggregating Rs 4000 cr

Capital Market 

State Bank of India announced that the committee of directors for capital raising at its meeting held on 03 September 2021 accorded its approval to allot 4,000 Basel III compliant non-convertible, taxable, perpetual, subordinated, unsecured, fully paid-up debt instruments in the nature of debentures qualifying as AT 1 capital of the Bank, of face value of Rs 1 crore each at par, bearing coupon of 7.72% payable annually, aggregating Rs 4000 crore to bond subscribers on 03 September 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sat, September 04 2021. 10:40 IST