State Bank of India (SBI) has raised Rs 10,000 crore through its maiden infrastructure bond issuance on December 02, 2022 at coupon rate of 7.51%. This is the largest single infrastructure bond issued by any Bank in the country. The amount raised through bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The tenor of these bonds is 10 years.
The issue attracted overwhelming response from investors with bids of Rs 16,366 crore and was oversubscribed by about 3.27 times against the base issue. The issuance with 143 bids also demonstrates the confidence of investor class. This also very clearly demonstrates the maturity of Indian investors in their selection of Issuers of such instruments. The Bank has AAA credit rating from domestic credit rating agencies for these instruments.
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 | 1113.40 |
| PNB | 114.75 |
| Canara Bank | 143.95 |
| Bank Of Baroda | 285.25 |
| Union Bank Of India | 191.65 |
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