Basel III Compliant Bonds
On 21st September, 2020, State Bank of India raised Rs 7,000 crore by issuing Basel III compliant bonds.
Key Points
- Bonds issued qualify as tier II capital of the bank, and have face value of Rs 10 lakh each.
- They bear coupon rate of 6.24 per cent per annum payable annually for a tenor of 10 years.
- There is call option after 5 years and on anniversary thereafter.
- Call option means the issuer of the bonds can call back the bonds before the maturity date by paying back the principal amount to investors.
About Basel Norms
- Basel norms or Basel accords are ....
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