SBI raises Rs 5000 cr by issuing Additional Tier 1 bond
Kolkata, Oct. 23 -- State Bank of India (SBI), the country's largest lender, raised Rs 5,000 cr through its first Basel III compliant Additional Tier 1 bond issuance on Wednesday for the current financial year at a coupon rate of 7.98 percent.The tenor of these bonds is perpetual with a call option after 10 years and each anniversary date thereafter and are rated AA+ with stable outlook from CRISIL Ratings Limited and CARE Ratings Limited.The issue attracted an overwhelming response from investors with bids above 3.5 times against the base issue size of Rs. 2,000 cr.The total number of bids received was 108 indicating participation from a diverse set of qualified institutional bidders.The participants were across provident funds, pension fu...
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