State Bank ofTravancore said March 31 that it allotted Basel III-compliant Tier2 bonds of 5.15 billion Indian rupees on private placement basis.

The 10-year bonds carry a face value of 1 million rupeeseach, with an annual coupon rate of 8.45% and a call option after five years.

As of March 31, US$1was equivalent to 66.16 Indian rupees.