SBI raised Rs.1,251 crore via tier I bonds

Last Updated: March 25, 2019

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SBI raised Rs.1,251 crore via tier I bonds
25 March 2019 Current Affairs: State Bank of India (SBI) announced it had raised Rs.1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising, at its meeting on 22 March 2019, deliberated and accorded approval to allot 12,513 non-convertible, taxable, perpetual, subordinated, unsecured Basel III-compliant additional tier-I bonds, for inclusion in additional tier-I capital of the bank aggregating to Rs.1,251.30 crore.
The bonds with a face value of Rs.10 lakh each bears a coupon rate of 9.45% per annum payable annually with a call option after 5 years or any anniversary date thereafter. The bonds were subscribed on 22nd March.

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