SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds

Mumbai, Sep 5 : State Bank of India (SBI) plans to raise up to Rs 7,000 crore, which includes Rs 5,000 crore in greenshoe through Basel-III Additional Tier-I bonds, market participants said.Bidding for the bonds will take place on Wednesday between 11 a.

m.and 12 p.m.Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each.AT1 Bonds are a type of perpetual bonds that dont have any expiry date which is issued to raise long term capital.msn/ #raise #BaselIII #bonds #Mumbai #Mumbai #State Bank Of India.