By Susanna Moon
Chicago, Sept. 27 – State Bank of India issued Rs. 25 billion of 8¾% perpetual subordinated debentures in a private placement.
The bank issued 25,000 AT1 Basel 3-compliant bonds with a face value of Rs. 1 million each, according to a notice with the Bombay Stock Exchange.
The bonds are callable after five years.
State Bank of India is a Mumbai-based multinational, public sector banking and financial services company.
| Issuer: | State Bank of India
|
| Issue: | Subordinated debentures
|
| Amount: | Rs. 25 billion
|
| Tenor: | Perpetual
|
| Coupon: | 8¾%
|
| Call option: | Beginning in five years
|
| Settlement date: | Sept. 27
|
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