State Bank of Travancore raises Rs 515 cr via tier II bonds

 Public sector lender State Bank of Travancore (SBT) today said it has raised Rs 515 crore by issuing Basel-III complaint tier-II bonds.

PTI| Updated: Mar 31, 2016, 11:59 AM IST
 State Bank of Travancore raises Rs 515 cr via tier II bonds

New Delhi: Public sector lender State Bank of Travancore (SBT) today said it has raised Rs 515 crore by issuing Basel-III complaint tier-II bonds.

The coupon rate on the bonds with a tenure of 10 years is fixed at 8.45 percent.

"The bank has on March 30, 2016 allotted 5,150 Basel III compliant tier II bonds in the nature of debentures, of face value of Rs 10 lakh each at par with ten years tenure bearing 8.45 percent per annum coupon rate and with call option on March 30, 2021 aggregating to Rs 515 crore on private placement basis," SBT said in a regulatory filing.

State Bank of Travancore shares were trading 0.68 percent up at Rs 385 apiece during morning session on the BSE.