homemarket Newsbonds NewsSBI raises ₹10,000 crore via tier 2 bonds at 7.8% coupon rate

SBI raises ₹10,000 crore via tier 2 bonds at 7.8% coupon rate

This is the first Tier 2 bond issuance by the bank in the current financial year. The bank has been rated AAA with stable outlook from CRISIL and India Ratings & Research Private Limited for these instruments.

Profile image

By CNBCTV18.com Nov 1, 2023 5:38:28 PM IST (Updated)

Listen to the Article(6 Minutes)
1 Min Read
SBI raises ₹10,000 crore via tier 2 bonds at 7.8% coupon rate
State Bank of India (SBI), country’s largest lender, on Wednesday, November 1, raised ₹10,000 crore at a coupon rate of 7.81% through its first Basel III compliant Tier 2 Bond for the current financial year. The bonds are issued for a tenor of 15 years, with the first call option after 10 years.

Share Market Live

View All

The issue attracted an overwhelming response from the investors with bids of ₹15,907 crore and was oversubscribed almost 4 times against the base issue size of ₹4,000 crore with 98 bids, SBI said.
Dinesh Khara, Chairman SBI expressed that “wider participation and heterogeneity of bids demonstrated the trust investors place in the country’s largest Bank.”
This is the first Tier 2 bond issuance by the bank in the current financial year. The bank has been rated AAA with stable outlook from CRISIL and India Ratings & Research Private Limited for these instruments.

Most Read

Share Market Live

View All
Top GainersTop Losers
CurrencyCommodities
CurrencyPriceChange%Change