State Bank of India approves raising fresh AT-1 capital up to ₹14,000 cr
1 min read 21 Jun 2021, 06:23 PM ISTSBI said it will raise additional tier-1 (AT-1) capital by way of issuance of Basel III compliant debt instruments in US dollar or Indian rupee through a public offer or private placement to overseas and/or Indian investors during FY22
PremiumThe country's largest lender State Bank of India (SBI) on Monday said that its board has approved raising capital by way of issuance of Basel III compliant debt up to ₹14,000 core.
A meeting of the central board of SBI was held today to consider raising capital, SBI said in a regulatory filing.
The bank said it will raise additional tier-1 (AT-1) capital by way of issuance of Basel III compliant debt instruments in US dollar or Indian rupee through a public offer or private placement to overseas and/or Indian investors during FY22.
AT-1 bonds, also called perpetual bonds, carry no maturity date but have a call option. The issuer of such bonds may call or redeem the bonds if it is getting money at a cheaper rate, especially at a time when interest rates are falling.
Shares of SBI closed 1.64 per cent higher at ₹419.55 apiece on BSE.
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