"State Bank of India Issues ₹7,500 Crore Tier 2 Bonds with Khaitan & Co as Legal Advisor"

"State Bank of India (SBI) issued ₹7,500 crore worth of BASEL III compliant Tier 2 Bonds, marking the first domestic bond issuance by a public sector bank in India for the current financial year. Khaitan & Co acted as the issuer counsel for SBI, with a team led by Partner Manisha Shroff."

Khaitan & Co acted as the issuer counsel for State Bank of India in its recent bond issuance. State Bank of India issued non-convertible, taxable, redeemable, subordinated, unsecured, fully paid-up BASEL III compliant Tier 2 Bonds in the nature of debentures. The issuance included a base issue of ₹5,000 crore and a green shoe option of ₹2,500 crore, aggregating to ₹7,500 crore, on a private placement basis. This marks the first domestic bond issuance by a public sector bank in India in the current financial year. The transaction team from Khaitan & Co consisted of Manisha Shroff (Partner), Nikunj Mehta (Senior Associate), Charul Lunia (Associate), and Rishabh Kumar (Associate).

"State Bank of India Issues ₹7,500 Crore Tier 2 Bonds with Khaitan & Co as Legal Advisor"

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