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Universal Times Magazine > Blog > Banking > SBI Card raises ₹450 crore through non-convertible debentures
Banking

SBI Card raises ₹450 crore through non-convertible debentures

Gaurav Verma
Last updated: 2020/12/22 at 7:03 PM
Gaurav Verma
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SBI Cards and Payment Services Ltd (SBI Card) has raised ₹450 crore by issuing bonds on a private placement basis.

Contents
Details of DebentureTenure and MaturityCoupon RateListing Exchange

Details of Debenture

The stakeholder relationship committee of the company has approved the allotment of 4,500 fixed rate, unsecured, rated, taxable, redeemable, senior, non-convertible debentures (NCDs) of the face value of ₹10 lakh each aggregating to ₹450 crore on a private placement basis

Tenure and Maturity

The tenure of the debt instruments is five years with the date of maturity as December 22, 2025.

Coupon Rate

The bonds bear coupon rate of 6 percent per annum.

Listing Exchange

The bonds will be listed on the Wholesale Debt Market Segment of BSE.

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Gaurav Verma December 22, 2020 December 22, 2020
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