New Delhi: State Bank of India (SBI) on Wednesday raised Rs 10,000 crore through its fifth infrastructure bond issue.
The country's largest lender raised funds at a coupon rate of 7.36 percent.
The issue received an overwhelming response from investors with bids amounting to over Rs 19,884 crore and was oversubscribed almost four times the base issue size of Rs 5,000 crore, SBI said in a regulatory filing.
It said the total number of bids received was 143, indicating wide participation with a diversity of bids.
It said the investors were from provident funds, pension funds, insurance companies, mutual funds, corporates etc.
It said the bond proceeds would be used to raise long-term resources to finance infrastructure and affordable housing sectors.
"Based on the response, the bank has decided to accept Rs 10,000 crore at a coupon rate of 7.36 per cent payable annually. This represents a spread of 21 bps over the respective FBIL G-Sec par curve."
With the current issuance, the total outstanding long-term bonds issued by the bank stand at Rs 49,718 crore.
This issue is also very important because the bank has been consistently successful in raising long-term bonds.
SBI Chairman Dinesh Khara said this issuance will help in developing the long-term bond curve and encourage other banks to issue long-term bonds.
The country's largest lender raised funds at a coupon rate of 7.36 percent.
The issue received an overwhelming response from investors with bids amounting to over Rs 19,884 crore and was oversubscribed almost four times the base issue size of Rs 5,000 crore, SBI said in a regulatory filing.
It said the total number of bids received was 143, indicating wide participation with a diversity of bids.
It said the investors were from provident funds, pension funds, insurance companies, mutual funds, corporates etc.
It said the bond proceeds would be used to raise long-term resources to finance infrastructure and affordable housing sectors.
"Based on the response, the bank has decided to accept Rs 10,000 crore at a coupon rate of 7.36 per cent payable annually. This represents a spread of 21 bps over the respective FBIL G-Sec par curve."
With the current issuance, the total outstanding long-term bonds issued by the bank stand at Rs 49,718 crore.
This issue is also very important because the bank has been consistently successful in raising long-term bonds.
SBI Chairman Dinesh Khara said this issuance will help in developing the long-term bond curve and encourage other banks to issue long-term bonds.
