State Bank of Travancore (SBT) today said it has raised Rs 515 crore by issuing Basel-III complaint tier-II bonds.

Coupon rate on the bonds with a tenure of 10 years is fixed at 8.45 per cent.

“The bank has on March 30, 2016 allotted 5,150 Basel-III compliant tier-II bonds in the nature of debentures, of face value of Rs 10 lakh each at par with ten years tenure bearing 8.45 per cent per annum coupon rate and with call option on March 30, 2021 aggregating to Rs 515 crore on private placement basis,” SBT said in a regulatory filing.

State Bank of Travancore shares were trading 0.68 per cent up at Rs 385 apiece during morning session on the BSE.