SBI Cards and Payment Services Ltd (SBI Card) has raised Rs 450 crore by issuing bonds on a private placement basis, the company said on Tuesday.
The stakeholder relationship committee of the company has approved the allotment of 4,500 fixed rate, unsecured, rated, taxable, redeemable, senior, non-convertible debentures (NCDs) of the face value of Rs 10 lakh each aggregating to Rs 450 crore on a private placement basis, SBI Card said in a regulatory filing.
The tenure of the debt instruments is five years with the date of maturity as December 22, 2025.
The bonds bear coupon rate of 6 per cent per annum, SBI Card said.
The bonds will be listed on the Wholesale Debt Market Segment of BSE. Stock of SBI Card closed at Rs 822 apiece on BSE, up 0.78 per cent over previous close.
