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State Bank of Travancore (SBT) has raised Rs 515 crore through issuing Basel-III complaint tier-II bonds.
The coupon rate on the bonds has been fixed at 8.45 percent with a tenure of 10 years.
SBT has said in a regulatory filing that “the bank has on March 30, 2016 allotted 5,150 Basel III compliant tier II bonds in the nature of debentures, of face value of Rs 10 lakh each at par with ten years tenure bearing 8.45 percent per annum coupon rate and with call option on March 30, 2021 aggregating to Rs 515 crore on private placement basis.”
