SBI Card raises Rs 650 crore through private placement of bonds – Business Standard

The stock was trading nearly flat at Rs 906 apiece on BSE

Topics

SBI Card | Private placement of debt | Bonds

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Representative image

SBI Cards and Payment Services (SBI Card) on Friday said it has raised Rs 650 crore by issuing bonds on a private placement basis.

“We hereby inform that stakeholders’ relationship and customer experience committee of the company has approved the allotment of 6,500 fixed rate, unsecured, rated, taxable, redeemable, senior, listed non-convertible debentures (NCDs) aggregating to Rs 650 crore on private placement basis,” SBI Card said in a release.

The bonds, bearing interest at 5.82 per cent, have a tenure of three years and are set for maturity on December 24, 2024.

SBI Card stock was trading nearly flat at Rs 906 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, December 24 2021. 14:16 IST