SBI raises Rs 10,000 crore through infra bond sale
State Bank of India announced that it has raised Rs 10,000 crore through an infrastructure bond issue. The country's largest lender will be paying a coupon rate of 7.49 per cent on the bonds, as per a statement.
State Bank of India (SBI) on Friday announced that it has raised Rs 10,000 crore through an infrastructure bond issue. The country's largest lender will be paying a coupon rate of 7.49 per cent on the bonds, as per a statement.
This is the fourth infra bond issue by SBI and the money raised will be deployed for on-lending to infrastructure projects and affordable housing, it said.
SBI had launched the issue with an aim to raise Rs 4,000 crore, and the same was oversubscribed by over five times, it said, adding that 134 bids worth Rs 21,045 crore were received.
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The investors were across provident funds, pension funds, insurance companies, mutual funds and corporates, the statement said.
The coupon is 0.12 per cent over the corresponding FBIL G-Sec par curve and marginally better than the 0.13 per cent it had to promise at the last infra bond issuance in August 2023, it added.
It had raised Rs 10,000 crore from the route in August, and with the current issuance, the total outstanding long-term bonds issued by the bank is Rs 39,718 crore.