State Bank of Travancore raises Rs 300 cr via bonds

State Bank of Travancore has raised Rs 300 crore through allotment of bonds.

In a BSE filing it said the bank was intended to raise up to Rs 600 crore through issuance of additional tier I bonds.

"The bank has today allotted 3,000 Basel III compliant unlisted, non-convertible, perpetual, unsecured, subordinated, fully paid-up, additional Tier 1 bonds, for inclusion in Tier 1 capital of the bank, in the nature of debentures of face value of Rs 10 lakh each aggregating to Rs 300 crore," it said.

It was raised at a coupon rate of 9 per cent per annum on private placement basis with call option on March 30, 2022.

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