SBI Basel-III compliant bonds News

The committee of directors of capital raising met on Monday and accorded its approval to allot 50,000 Basel-III bonds The debentures qualifying as tier II capital of the bank of the face value of Rs 10 lakh each, at par, bearing a coupon of 5.83 percent aggregating to Rs 5,000 crore were allotted to bond subscribers on Oct 26, 2020 The interest on the bonds will be paid annually for a tenor of 10 years and call option after 5 years and on anniversary date thereafter, it said

SBI said 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.