SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds
Monday - September 5, 2022 2:30 pm ,
Category : BUSINESS
Mumbai, Sep 5 (IANS) State Bank of India (SBI) plans to raise up to Rs 7,000 crore, which includes Rs 5,000 crore in greenshoe through Basel-III Additional Tier-I bonds, market participants said.Bidding for the bonds will take place on Wednesday between 11 a.m. and 12 p.m.Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each.AT1 Bonds are a type of perpetual bonds that don't have any expiry date which is issued to raise long term capital.
--IANS msn/ksk/
--IANS msn/ksk/
(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)
