SBI to raise Rs 5,000cr via bonds this fiscal

MUMBAI: State Bank of India (SBI) on Friday said it will raise upto Rs 5,000 crore by way of bonds this fiscal.

The Bank has been permitted by the executive committee of its central board (ECCB) to raise Innovative Perpetual Debt Instruments, Upper Tier II or Lower Tier II subordinated debt in tranches, to raise the amount, it informed the Bombay Stock Exchange.

The bonds, whose minimum maturity period will be over 60 months, will be issued through structured deals or by private placement or book-building process as per RBI guidelines, it said.