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
Download Money9 App for the latest updates on Personal Finance.