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As on (27 Jul 2024 | 09:34)

Back To Homepage As on (27 Jul 2024 | 09:34)

State Bank of India raises Rs 10000 cr via infrastructure bonds	Back
(31 Jul 2023)
State Bank of India raised Rs. 10,000 crore at a coupon rate of 7.54% through its third infrastructure bond issuance, bidding for which took place on 31 July 2023. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The tenor of these bonds is 15 years. This is the first issuance of long term bond by any bank for this tenor in the current financial year. The issue attracted overwhelming response from investors with bids of Rs. 21,698 crore and was oversubscribed by 4.34 times against the base issue size. Based on the response, the Bank has decided to accept Rs. 10,000 crores at a coupon rate of 7.54% payable annually for a tenor of 15 years. This represents spread of 13 bps over the corresponding FBIL G-Sec par curve. Prior to this, the Bank had raised infrastructure bonds of Rs. 9,718 crores on 19th January 2023 at a spread of 17 bps over the corresponding FBIL G-Sec par curve. The Bank has AAA credit rating with stable outlook from domestic credit rating agencies for these instruments.
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