HomeBusinessSBI Cards raises Rs 550 crore through bond issue

SBI Cards raises Rs 550 crore through bond issue

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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.”

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“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.

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.
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