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Monday, March 14, 2005

SBI plans to raise Rs 4,000 cr via Tier-II debt (Economic Times)

SBI plans to raise Rs 4,000 cr via Tier-II debt
(Economic Times)

AGENCIES[ FRIDAY, MARCH 11, 2005 11:33:34 PM]
MUMBAI: The State Bank of India (SBI) is planning to raise Tier-II capital (subordinated debt)
worth Rs 3,000- Rs 4,000 crore to support the credit growth of country’s largest commercial
banking entity.

“The credit growth is going to be substantial in the next fiscal (‘05-06) in all sectors. Therefore, the
bank is exploring the option to raise capital through Tier-II bonds worth Rs 3,000-4,000 crore to
support the credit growth,” SBI chairman AK Purwar said on the sidelines of a derivative seminar
organised by FIMDA here today.

Mr Purwar did not specify the time-frame in which the bonds having a five-year maturity would hit
the market.

Asked about tapping the equity capital market Mr Purwar said, “I will not rule out the possibility of
going for a public offering as the current market is very attractive.”

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