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SBI raises Rs 500 crore via issue of bonds

The amount raised will be a part of SBI's Rs 12,000 crore debt capital.

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The country's largest lender, SBI, said it has raised Rs 500 crore from the issue of bonds on a private placement basis.

"The bank on March 21, 2016 issued 5,000 Basel III compliant, tier-ll bonds in the nature of debentures of face value of Rs 10,00,000 each at par with 10-year tenure, bearing 8.45% per annum coupon payable annually and with a call option after five years aggregating Rs 500 crore on a private placement basis," State Bank of India said in a BSE filing.

The fund raised is part of SBI's Rs 12,000 crore debt capital.

Last week, the public sector lender had raised Rs 3,000 crore on a private placement basis.

Earlier, on March 9, the SBI board had approved raising the remaining Rs 5,000 crore of the Rs 12,000-crore fund-raising programme.

At 1216 hours, the bank's stock was trading 0.03% higher at Rs 196.70 on the BSE.
 

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