SBI raises Rs 500 crore via issue of bonds

The country's largest lender, SBI, today said it has raised Rs 500 crore from issue of bonds on a private placement basis.

"The bank on March 21, 2016 issued 5,000 Basel III compliant, tier-ll bonds in the nature of debentures of face value of Rs 10,00,000 each at par with 10-year tenure, bearing 8.45 per cent per annum coupon payable annually and with a call option after 5 years aggregating Rs 500 crore on a private placement basis," State Bank of India said in a BSE filing.

The fund raised is part of SBI's Rs 12,000 crore debt capital.

Last week, the public sector lender had raised Rs 3,000 crore on a private placement basis.

Earlier, on March 9, the SBI board had approved raising the remaining Rs 5,000 crore of the Rs 12,000-crore fund-raising programme.

The SBI stock was trading 0.03 per cent higher at Rs 196.70 on BSE in the morning trade.