The bonds will be open for subscripttion from 18th October and will close on 25th October.
State Bank of India has announced the public issue of Lower Tier II bonds aggregrating to Rs. 5000mn with an option to retain oversubscripttion upto Rs. 5,000mn for issuance of additional bonds aggregrating to a total of Rs. 10,000mn.
The bonds will be open for subscripttion from 18th October and will close on 25th October.
The bonds will be issued in two series-Series-I and Series 2 having maturity of 10 years and 15 years respectively, with a face value of Rs. 10,000 each.
Thse bonds are not redeemable at the option of the bondholder or without the prior consent of RBI.
O P Bhatt, Chairman , State Bank of India said, "The company is planning to launch another retail bond issue."
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Should you invest in SBI's Lower Tier II Bonds?
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