SBI to raise upto Rs 4,000 cr via Basel-III Tier-II bonds

MUMBAI: The State Bank of India (SBI) has planned to raise up to Rs 4,000 crore, which includes Rs 2,000 crore in greenshoe through Basel-III Tier-II bonds maturing in 15-years, dealers said.

The bidding for the bonds will take place on September 21 between 11 a.m. and 12 p.m. on the National Stock Exchange (NSE).

The Tier-II bonds have a call option of 10-years.

The call option allows early exit for investors should the lender exercise the option.