SBI sells Rs. 2,000 crore in tier- II bonds
Business Standard
Friday, January 03, 2014

State Bank of India, the countrys largest lender, raised Rs. 2,000 crore ($ 323.34 million) through the sale of tier- II 10- year bonds at 9.69 per cent, two sources with knowledge of the deal said. The debt is compliant with Basel- III requirements, and SBI Capital Markets will be the arranger, the sources added. Both declined to be identified because the deal has not been publicised. The pay- in occurred on Wednesday, and the allotment is due to take place on Thursday, said one of the sources, who added the debt was placed with pension funds and insurance firms among other investors.

distributed by