SBI Cards raises Rs 500 crore by issuing bonds

SBI Cards and Payment Services on Monday said its has raised Rs 500 crore by issuing bonds.

Its board of directors has approved the allotment of 5,000 fixed rate, unsecured, rated, taxable, redeemable and senior non-convertible debentures aggregating to Rs 500 crore on a private placement basis, SBI Card said in a regulatory filing.

The coupon on the bonds is 5.55 per cent per annum. The bonds have been allotted on June 14, 2021.

The company said the bonds are set to mature on June 14, 2024.

SBI Card said it will list the bonds on the wholesale debt market segment of the BSE.

The company's shares on Monday closed 1.58 per cent down at Rs 1078.35 apiece on the BSE.

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