MUMBAI, Feb 16 (Reuters) - The State Bank of India plans to raise at least 20 billion rupees ($242.04
million) selling Basel III-compliant additional Tier-1 perpetual
bonds, three merchant bankers said on Thursday.
The state-run lender has invited coupon and commitment bids
from bankers and investors between 10:30 a.m. IST and 11:30 a.m.
IST on Monday, they said.
The issue will have a greenshoe option to retain an
additional 80 billion rupees and a call option at the end of the
10 years, the bankers said.
The bonds are rated AA+ by CRISIL and the issue will close
for subscription on Tuesday.
In January, the SBI raised 97.18 billion rupees through
infrastructure bonds maturing in 15 years at a coupon of 7.70%.
The lender last issued perpetual bonds in September, when it
had raised 68.72 billion rupees at a coupon of 7.75%.
($1 = 82.6300 Indian rupees)
(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by
Sohini Goswami)
