State Bank of India (SBI) has received an approval for the allotment of 3,974 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 Rs 1 crore each, at par, bearing a coupon of 7.55% p.a. payable annually, aggregating to Rs 3,974 crore, to Bond Subscribers. The Committee of Directors for Capital Raising at its meeting held on December 14, 2021 accorded its approval for the same.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
