AK Capital raises Rs 200 cr Perpetual Bonds for SBT successfully

AK Capital Services Ltd has announced that the Company has successfully raised Rs 200 crore Unsecured Non-Convertible Subordinated Perpetual Bonds for State Bank of Travancore through private placement route. The Bonds rated 'AAA' by CRISIL & CARE have been raised at a competitive coupon rate of 9.34% p.a. payable annually for first 10 years which would be stepped up to 9.84% p.a. payable annually for all subsequent years if Call Option is not exercised by the Bank at the end of 10th Year. This has been the most finely priced perpetual bond offering in the domestic bond markets till date. The issue was successfully syndicated in just about 2 working days by the Company as one of the Lead Arrangers to the issue.

Source : Equity Bulls

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