Mumbai, SBI on Wednesday announced raising Rs 10,000 crore by issuing infrastructure bonds.
The proceeds from the bonds will be used to raise long-term resources to finance infrastructure and affordable housing segment, SBI said in a statement.
The fresh funding follows a similar development about a fortnight ago, when the country's largest lender raised Rs 10,000 crore through an infrastructure bond issuance.
The coupon rate for the latest issue was 7.36 per cent payable annually over a tenure of 15 years, the same as the previous issue.
It said the state-owned lender had launched the issue to raise Rs 5,000 crore, and raised Rs 10,000 crore due to high investor interest and greenshoe option.
It said the issue was oversubscribed 3.6 times and bids worth over Rs 18,145 crore were received.
It said a total of 120 investors including provident funds, pension funds, insurance companies, mutual funds, corporates participated in the funding.
SBI Chairman Dinesh Khara said the issuance will help develop the long-term bond curve and encourage other banks to issue long-term bonds.
With the current issuance, the total outstanding long-term bonds issued by the bank becomes Rs 59,718 crore, the statement said.
The proceeds from the bonds will be used to raise long-term resources to finance infrastructure and affordable housing segment, SBI said in a statement.
The fresh funding follows a similar development about a fortnight ago, when the country's largest lender raised Rs 10,000 crore through an infrastructure bond issuance.
The coupon rate for the latest issue was 7.36 per cent payable annually over a tenure of 15 years, the same as the previous issue.
It said the state-owned lender had launched the issue to raise Rs 5,000 crore, and raised Rs 10,000 crore due to high investor interest and greenshoe option.
It said the issue was oversubscribed 3.6 times and bids worth over Rs 18,145 crore were received.
It said a total of 120 investors including provident funds, pension funds, insurance companies, mutual funds, corporates participated in the funding.
SBI Chairman Dinesh Khara said the issuance will help develop the long-term bond curve and encourage other banks to issue long-term bonds.
With the current issuance, the total outstanding long-term bonds issued by the bank becomes Rs 59,718 crore, the statement said.
