State Bank of India issues Tier II Bonds aggregating Rs 3000 crore

On private placement basis

State Bank of India has on 18 March 2016 issued 30,000, Basel III compliant, Tier-ll bonds in the nature of debentures, of face value of Rs. 10,00,000/- each at par, with 10 year tenure, bearing 8.45% p.a. coupon payable annually and with call option after 5 years, aggregating to Rs.3000 crore (Rupees three thousand crores) on private placement basis.

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