By Aaron Hochman-Zimmerman
New York, Sept. 27 - State Bank of Patiala priced a Rs. 300 billion upper tier II bond issue (Crisil: AAA/Care: AAA) with a coupon of 9.90%, according to a press release.
AK Capital Services acted as bookrunner for the deal.
On Sept. 21, AK Capital also coordinated a Rs. 500 billion lower tier II bond (Crisil: AA/Care: AA+) sale for Allahabad Bank. That issue priced with a coupon of 10%.
The State Bank of Patiala is a Mumbai-based retail and commercial bank.
| Issuer: | State Bank of Patiala
|
| Issue: | Upper tier II bonds
|
| Amount: | Rs. 300 billion
|
| Coupon: | 9.90%
|
| Bookrunner: | AK Capital Services
|
| Pricing date: | Sept. 25
|
| Rating: | Crisil: AAA
|
| Care: AAA
|
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