SBI exercises call option on retail bonds issued in 2011, will no longer pay 9.95% interest
SECTIONS
SBI exercises call option on retail bonds issued in 2011, will no longer pay 9.95% interestBy
Share
Synopsis
The bond was to mature on March 16, 2026, but due to the call option investors who had invested in these bonds will get their money back today or tomorrow.
Financial planners attribute this move by SBI due to the lower interest rates prevailing in the current environment.
Related
NSE
Explore Now
SBI has exercised the call option on its 15-year retail bonds that paid retail investors a 9.95 per cent interest rate. The bonds issued in Feb – March 2011 had a call option at the end of the 10th year, which has been exercised by SBI. The bond was to mature on March 16, 2026, but due to the call option, investors who had invested in these bonds will get their money back today or tomorrow.
Export-Import Bank of India (India Exim Bank) and State Bank of India on Thursday listed their foreign currency bonds aggregating $1 billion and $600 million, respectively, on the India International
SBI raises Rs 4,500 crore via overseas bonds
The bond has maturity period of 5.5 years and coupon of 1.80 per cent payable semi-annually under Regulation-S, says SBI
BusinessToday.In | January 7, 2021 | Updated 15:47 IST
SBI bonds will be listed on Singapore Exchange Securities Trading Ltd and India INX
State Bank of India, the country s largest lender, on Thursday said it has raised $600 million (about Rs 4,500 crore) from international dollar denominated public bond. The state-owned lender claimed that it is the first public dollar bond issued by an Indian scheduled commercial bank since the onset of COVID-19.
The bond has maturity period of 5.5 years and coupon of 1.80 per cent payable semi-annually under Regulation-S, the public sector lender said in a press release. SBI said that this is lowest coupon achieved by an Indian issuer for a 5.5-year issuance to date.