SBI Card raises Rs 550 crore through private placement of bonds

Cards and Payment Services (Card) on Tuesday said it had raised Rs 550 crore by issuing on a private placement basis.

The Stakeholder Relationship Committee of the company has approved the allotment of 5,500 non-convertible debentures aggregating to Rs 550 crore on private placement basis, Card said in a regulatory filing.

The tenure of the is three years with a maturity date of February 23, 2024.

The coupon rate on the is fixed at 5.90 per cent per annum.

stock closed 0.91 per cent higher at Rs 1,028.95 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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