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The State Bank of India has increased Rs 4,000 crore through the issuance of tier-II bonds on a private placement basis under Basel- III norms.
SBI said in a BSE fling that “The bank on December 23, 2015 issued 40,000 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 8.33 percent per annum coupon and with call option after 5 years, aggregating to Rs 4,000 crore on private placement basis.”
The usage of the proceeds has not been elaborated by the bank.
