SBI Cards raises Rs 550 crore through bond issue

SBI Cards and payment services on February 22, said, “It has raised Rs 550 crore through issuance of bonds on a private placement basis.”

In a filing with the exchange, SBI Card said, “The stakeholder relationship committee of the company has approved the allotment of 5,500 non-convertible debentures aggregating to Rs 550 crore on a private placement basis.”

“The coupon rate on the bonds is fixed at 5.95 percent per annum and the tenure of the bonds is three years with a maturity date of February 23, 2024,” the filing added.