MoneyWorks4Me

SBI planning to raise Rs 2,000 crore through Basel-III bonds

03 Aug 2017 Evaluate

State Bank of India (SBI) is planning to raise Rs 2,000 crore by allotting 20,000 AT1 Basel-III compliant non-convertible, perpetual, subordinated bonds in the nature of debentures to various investors. Bonds will carry a coupon rate of 8.15 per cent per annum with a call option after 5 years or the anniversary date thereafter. The committee of directors accorded its approval on August 3, 2017, for the same. 

State Bank of India (SBI) offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.

Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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