State Bank of India (SBI), said it has raised ₹5,000 crore through its first Basel III compliant Additional Tier 1 bond issuance for the current financial year at a coupon rate of 7.98%.
The tenor of these bonds is perpetual with call option after 10 years and each anniversary date thereafter.
“The issue attracted an overwhelming response from investors with bids in excess of 3.5 times against the base issue size of ₹2,000 crore. The total number of bids received was 108 indicating participation from a diverse set of qualified institutional bidders,” the bank said in a statement.
C S Setty, Chairman, SBI said that wider participation and heterogeneity of bids demonstrated the trust investors placed in the bank.
Published – October 23, 2024 10:47 pm IST
