 "SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11")
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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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