State Bank of India (SBI) has raised Rs 10,000 crore at a coupon rate of 7.54 per cent through its third infrastructure bond issuance. The proceeds will be used in enhancing its long-term resources for funding infrastructure and the affordable housing segment.
The tenor of these bonds is 15 years. This is the first issuance of long-term bonds 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 4.34 times against the base issue size.
State Bank of India 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.
