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The State Bank of India has raised Rs 2,100 crore through allotment of Basel III compliant perpetual bonds to YES Bank.
It is a part of the bank’s Rs 11,100 crore fund raising plans which it intends to raise on a private placement basis through issuing debt instruments.
It has said in a BSE filing that “The bank on September 6, has issued and allotted 21,000 AT1 Basel III compliant debentures of face value of Rs 10 lakh each at par through private placement bearing coupon rate of 9 percent per annum with call option after five years or any coupon payment date thereafter aggregating to Rs 2,100 crore in first tranche, to Yes Bank.”
