SME Times News Bureau | 15 Jul, 2020
The Central Board of the State Bank of India (SBI) on Wednesday approved
the raising of up to Rs 25,000 crore through bonds in the financial
year 2020-21.
In a regulatory filing, the bank said that it has
approved the "raising of capital by issuance of Basel III compliant debt
instruments in USD and/or INR during FY21."
The fund raising
would include fresh Additional Tier 1 (AT 1) capital up to an amount of
Rs 4,000 crore and raising of fresh Tier 2 capital up to an amount of Rs
10,000 crore.
The board also approved "to redeem existing Tier 2
capital bonds of Rs 11,015 crore having call dates during FY21 and
replacing the same by raising fresh Tier 2 capital bonds of the same
amount".
