SBI Cards and Payment Services (SBI Card) has raised Rs 450 crore by issuing bonds on a private placement basis. The stakeholder relationship committee of the company has approved the allotment of 4,500 fixed rate, unsecured, rated, taxable, redeemable, senior, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each aggregating to Rs 450 crore on a private placement basis. The tenure of the debt instruments is five years with the date of maturity as December 22, 2025. The bonds bear coupon rate of 6 per cent per annum.
SBI Cards and Payment Services is a payment solutions provider in India.
