Skip to main content

MoneyWorks4Me

SBI Cards raises Rs 450 crore through NCDs

23 Dec 2020 Evaluate

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.

Peers