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Tuesday, January 31, 2023

SBI increases to ₹7,000 cr via Basel-III AT1 bonds

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National Bank of India (SBI) plans to raise to Rs 7,000 crore, including Rs 5,000 crore in greenshoe through Basel-III supplementary Tier-I bonds, market said participants.

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Bidding on the bonds will take place on Wednesdays between 11 a.m. and 12 noon

Non Convertible Taxable Eternal Subordinated Unsecured Basel III Compliant Additional Tier 1 Bonds in the form of bonds with a denomination of Rs 1 Crore each.

AT1 Bonds are a type of perpetual bonds with no maturity date that are issued to raise capital over the long term.

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