SBI Cards and Payment Services (SBI Card) on Friday said it has raised Rs 650 crore by issuing bonds on a private placement basis.
Press Release
“We hereby inform that stakeholders’ relationship and customer experience committee of the company has approved the allotment of 6,500 fixed rate, unsecured, rated, taxable, redeemable, senior, listed non-convertible debentures (NCDs) aggregating to ₹650 crore on private placement basis.”
Interest Rate and Maturity
The bonds, bearing interest at 5.82%, have a tenure of three years and are set for maturity on December 24, 2024.
The company said the principal first interest payment will be made on 26 December, 2022 and the second one on 26 December, 2023 and the last and final payment on 24 December, 2024, along with maturity proceeds.
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