SBI raises Rs 500 crore via issue of bonds

The State Bank of India on Tuesday said it has raised Rs 500 crore from issue of bonds on a private placement basis.

“The bank on March 21, 2016, issued 5,000 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 8.45 per cent per annum coupon payable annually and with a call option after 5 years aggregating Rs 500 crore on a private placement basis,” SBI said in a BSE filing.

The fund raised is part of SBI’s Rs 12,000 crore debt capital.

Last week, the public sector lender had raised Rs 3,000 crore on a private placement basis.