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State Bank of India aims to raise Rs 2,000 cr through Basel-III bonds

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State Bank of India has been aiming to raise Rs 2,000 crore through allotment of Basel-III complaint bonds to various investors.

State Bank of India (SBI) has said in a regulatory filing that “The committee of directors for capital raising accorded its approval today to allot 20,000 AT1 Basel-III complaint non-convertible, perpetual, subordinated bonds in the nature of debentures…. aggregating Rs 2,000 crore to various investors.”

SBI has said that the bonds will carry a coupon rate of 8.15 percent per annum with a call option after 5 years or the anniversary date thereafter.

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