SBI Cards raises Rs 550 crore via bonds on private placement basis

SBI Cards and Payment Services (SBI Card) said it had raised Rs 550 crore by issuing bonds on a private placement basis. The Stakeholder Relationship Committee of the company has approved the allotment of 5,500 non-convertible debentures aggregating to Rs 550 crore on private placement basis, SBI Card said. The tenure of the bonds is three years with a maturity date of Februar y 23, 2024.