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India's State Bank of Travancore raises Rs. 1.950 billion in debt
By Reshmi Basu
New York, Nov. 24 - State Bank of Travancore said it raised Rs. 1.950 billion through the private placement of subordinated debt.
The bonds expire in 111 months and carry a coupon rate of 7.05%.
The books were closed on the opening day since the issuance had been fully subscribed.
The funds will boost the bank's tier II capital.
State Bank of Travancore, based in Trivandrum, India, is a public sector bank.
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