New Delhi: State Bank of India (SBI) on Friday said it would raise 2,045 crore by issuing Basel III compliant bonds. “The committee of directors for fundraising at its meeting held today on 21 December 2018, deliberated and accorded approval to allot 20,450 non-convertible, taxable, perpetual, subordinated, unsecured Basel III compliant additional Tier 1 bonds, for inclusion in additional Tier 1 capital of the bank...aggregating to 2,045 crore," SBI said in a regulatory filing.

SBI said the bonds are in the nature of debentures of face value of 10 lakh each bearing coupon of 9.37% per annum payable annually, with call option after 5 years or any anniversary date thereafter.

On Friday, SBI shares fell 0.75 % to 291.65 apiece on the BSE while the benchmark Sensex lost 1.89% to end the day at 35,742.07 points.

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