Mumbai: Public sector lender, State Bank of India (SBI), plans to raise Rs 500-crore via perpetual bonds next week, a senior company official on Friday said.
"We plan to raise a perpetual debt of Rs 500-crore at
9.10 per cent sometime next week," SBI Deputy Managing
Director and CFO, S S Ranjan, told reporters here.
The country's largest bank plans to place the money
with SBI Pension Fund.
"We will place it with SBI Pension Fund," he said.
This would not dilute the equity capital but would
add to the bank's Tier I capital, he added.
Ranjan said credit off-take for retail and corporate
loans was improving.
Besides, the bank was witnessing a strong revival in
the home loans segment. "Applications for home loans have gone up. There
is a strong demand for affordable housing," Ranjan said.
First Published: Friday, August 07, 2009, 19:04