SBI mobilises Rs 6,051 crore from Tier II bonds to fund biz growth

NEW DELHI: (Mar 18) State Bank of India (SBI) on Tuesday said it has raised Rs 6,051 crore through its second Basel III-compliant Tier II bond issuance at a coupon rate of 7.05 per cent.

The resource mobilised would be used for the business growth of the bank.

The bonds are issued for a tenor of 10 years, with a call option after 5 years and each anniversary date thereafter, SBI said in a statement.