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Saturday, Mar 31, 2007
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 Money & Banking - Corporate Bonds
State Bank of Saurashtra bonds

Our Bureau

Mumbai March 30 State Bank of Saurashtra has raised Rs 225 crore through unsecured redeemable non-convertible subordinated (Tier-II) bonds on private placement basis. The size of the issue was Rs 125 crore with an option to retain over subscription of Rs 100 crore. The bonds rated "AAA" by ICRA & CARE has a tenure of 111 months and bears a coupon rate of 9.8 per cent per annum.

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