State Bank of India (SBI) has raised Rs 10,000 crore at a coupon rate of 7.49% through its fourth infrastructure bond issuance. The issue attracted overwhelming response from investors with bids of Rs 21045.10 crore and was oversubscribed by more than 5 times against the base issue size of Rs 4,000 crore. The total number of bids received was 134 indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment.
Based on the response, the Bank has decided to accept Rs 10,000 crore at a coupon rate of 7.49% payable annually. This represents spread of 12 bps over the corresponding FBIL G-Sec par curve. Prior to this, the Bank had raised Long Term Bonds of Rs 10,000 crore on August 01, 2023 at a spread of 13 bps over corresponding FBIL G-Sec par curve. The Bank has ‘AAA’ credit rating with stable outlook from all domestic credit rating agencies for these instruments. With the current issuance, the total outstanding Long-Term Bonds issued by the Bank is at Rs 39,718 crore. This issuance is also very significant as the Bank has been successful in raising long duration bonds successively at a finer spread.
State Bank of India (SBI) is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
| Company Name | CMP |
|---|---|
| SBI | 818.35 |
| Bank Of Baroda | 255.65 |
| PNB | 123.85 |
| Canara Bank | 548.20 |
| Union Bank Of India | 142.05 |
| View more.. | |
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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