SBI to raise Rs 2,000 cr from bonds
Quotes

SBI to raise Rs 2,000 cr from bonds

Last Updated: Thursday, January 02, 2014, 18:44
 
 Comment 0
 
SBI to raise Rs 2,000 cr from bonds
New Delhi: State Bank of India (SBI) on Thursday said it plans to raise Rs 2,000 crore from bonds by way of private placement.

The executive committee of the central board of the bank has approved allotment of Basel III compliant Tier 2 bonds of Rs 2,000 crore, SBI said in a filing to the BSE.

The bonds with tenure of 120 months (10 year bullet) carries a coupon 9.69 per cent, it said.

The issuance of bonds would be by way of private placement, it said.

Besides, the meeting also approved the preferential issue of 1.12 lakh crore equity shares of Rs 10 each to the government up to Rs 2,000 crore.

The bank has fixed an issue price of Rs 1,782.74 per share for a preferential stock allotment to the government as part of the capital infusion plan for this fiscal.

The SBI board had approved the preferential allotment in October.

The additional funds will enable the bank to support national and international banking operations undertaken through its subsidiaries and associates.

Last fiscal, the government infused Rs 3,004 crore in the bank.


PTI

First Published: Thursday, January 02, 2014, 18:44


Comments


comments powered by Disqus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook
BMW-X3
BMW-X3
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
Honda Mobilio MPV
Honda Mobilio MPV

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved