SBI Cards and Payment Services (SBI Card) on Tuesday said it had raised Rs 550 crore by issuing bonds on a private placement basis.
SBI said in a Regulatory filing
“We hereby inform that Stakeholder Relationship Committee of the Company has approved the allotment of 5,500 Fixed Rate, Unsecured, Rated, Taxable, Redeemable, Senior.
Non-Convertible Debentures (“NCDs”) of the face value of Rs. 1.000,000 each, at par, under Series 23 aggregating to Rs. 550 crores on private placement basis.”
Tenure
The tenure of the debt instruments is three years with the date of maturity as 23 February, 2024
Coupon rate
The coupon rate on the bonds is fixed at 5.90 per cent per annum.
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