SBI Card approves allotment of NCDs worth Rs550cr

The company on Tuesday allotted 5,500 NCDS of the face value of Rs10 lakh each on a private placement basis for a tenure of three years.

Feb 23, 2021 04:02 IST India Infoline News Service

SBI Cards and Payment Services Ltd. has approved the allotment of 5,500 fixed-rate, unsecured, rated, taxable, redeemable, senior, Non-Convertible Debentures (NCDs) of the face value of Rs10 lakh each, at par, under Series 23 aggregating to Rs550cr on private placement basis.

“The tenure of the instrument is three years ending February 23, 2024. Coupon rate 5.90 pa. First interest payment is on February 23. 2022, second interest payment on February 23. 2023 and final interest payment on February 23, 2024 along with maturity proceeds,” company said in a regulatory filing on Tuesday.

SBI Cards & Payment Services Ltd ended at Rs1,028.95 per piece up by Rs9.3 or 0.91% from its previous closing of Rs1,019.65 per piece on the BSE.

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