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The tenure of the instruments is three years, which are set to mature on August 16, 2024.
SBI Cards and Payment Services (SBI Card) has raised Rs 500 crore by issuing bonds on a private placement basis.
The stakeholders’ relationship and customer experience committee of the company has approved the allotment of 5,000 fixed rate, redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each aggregating to Rs 500 crore on private placement basis, SBI Card said in a regulatory filing on Tuesday.
The tenure of the instruments is three years, which are set to mature on August 16, 2024. SBI Card will offer a coupon rate of 5.70% per annum on the bonds.
Shares of the company closed 0.92% down at Rs 1,016 apiece on BSE.
Published: August 17, 2021, 16:40 IST