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State Bank of India raises ₹6,000 crore by issuing bonds

The State Bank of India (SBI) said it has raised ₹6,000 crore by issuing Basel III compliant bonds. The non-convertible, taxable, perpetual, subordinated and unsecured bonds have face value of ₹1 crore each and bear coupon of 7.72% per annum payable annually. In June, SBI’s central board gave approval for raising fresh additional tier-1 capital of up to ₹14,000 crore.

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