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Wednesday, Dec 17, 2008
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SBI to raise Rs 18,000 cr

Our Bureau

Mumbai, Dec. 16 State Bank of India is planning to raise up to Rs 18,000 crore through bonds by December 2010.

In a notice issued to the Bombay Stock Exchange, the bank said it will raise the money during the remaining of this fiscal and in the next fiscal, in tranches with a minimum maturity of five years.

The bank will raise the funds through innovative perpetual debt instruments, upper tier-II and lower tier-II subordinated debt issues, the BSE notice said. The bank will use the funds to shore up its capital adequacy ratio.

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