Connect with us

Hi, what are you looking for?

Finance

SBI to raise Rs 4,116 crore via Basel III bonds

New Delhi: The country's largest lender SBI will raise ..

New Delhi: The country's largest lender SBI will raise Rs 4,116 crore by issuing Basel III compliant bonds to add up to its tier 2 capital, the bank said Friday.

The committee of the directors for capital raising has accorded approval to allot Basel III compliant debt instruments qualifying as tier 2 capital of the bank, SBI said in a regulatory filing.

As per the bond programme, the bank will issue 41,159 non-convertible, taxable, redeemable, subordinated, unsecured debt instruments in the nature of debentures of face value of Rs 10 lakh each, bearing coupon of 8.90 per cent per annum aggregating to Rs 4,115.90 crore, it said.

The interests are to be paid annually for a tenor of 10 years with call option after 5 years to various bond subscribers, SBI said.

Stock of SBI traded 0.61 per cent down at Rs 283.95 on BSE.

Original Article

[contf]
[contfnew]

ET Markets

[contfnewc]
[contfnewc]

Finance

In an interview with ET Now, Dabur India Director Mohit Burm..

Science

The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..

Tech

Enlarge Oliver Morris/Getty Images) In response to an Ars re..

Tech

Enlarge/ You wouldn't really want to use Nvidia's ..