State Bank of India to raise Rs4,000cr via AT1 bonds – Indiainfoline

State Bank of India

State Bank of India (SBI) has informed to the exchange that the Committee of Directors for Capital Raising on September 3, 2021 has accorded its approval to allot debt securities.

The Bank has approved to allot 4,000 Basel III compliant Non-convertible, Taxable, Perpetual, Subordinated, Unsecured, Fully Paid-up Debt instruments in the nature of debentures qualifying as AT 1 Capital of the Bank, of face value of Rs1cr each, at par, bearing a coupon of 7.72% p.a. payable annually, aggregating to Rs4,000cr (Rupees Four Thousand Crore only), to Bond Subscribers on September 03, 2021.

At around 9:22 AM, State Bank of India was trading at Rs432.75 apiece up by Rs1.35 or 0.31%.

Previously, the  scrip ended at Rs431.40 apiece on the BSE.

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