SBI to raise Rs 500-crore debt

State Bank of India plans to raise Rs 500-crore via perpetual bonds, a senior bank official said.

“We plan to raise Rs 500-crore at 9.10 per cent,” the public sector lender’s Deputy Managing Director and CFO, S S Ranjan, said in Mumbai.

“We will place it with SBI Pension Fund,” he said.

This would not dilute the equity capital but would add to the bank’s Tier I capital, he said.