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State Bank of India calls all $400 million hybrid tier 1 notes at par
By Marisa Wong
Morgantown, W.Va., April 20 – State Bank of India issued a notice of redemption for its $400 million hybrid tier 1 notes.
The notes will be redeemed in full on May 15 at par plus accrued interest to the redemption date.
The perpetual notes carry a coupon of 6.439%.
The notes were originally issued in February 2007 by the Mumbai-based bank’s Nassau branch under its $2 billion medium-term note program.
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