State Bank of India (SBI) raised Rs. 10,000 crore today at a coupon rate of 7.36% through its sixth infrastructure bond issuance. The issue attracted overwhelming response from investors with bids in excess of Rs. 18,145 crore and was oversubscribed by around 3.6 times against the base issue size of Rs. 5,000 crore. The total number of bids received was 120 indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. Based on the response, the Bank has decided to accept Rs. 10,000 crore at a coupon rate of 7.36% payable annually for a tenor of 15 years. The instrument is rated AAA with stable outlook. With the current issuance, the total outstanding Long-Term Bonds issued by the Bank is at Rs. 59,718 crore.Powered by Capital Market - Live News

State Bank of India announced that bidding for the bank`s long term bond issuance of Rs 10,000 crore was conducted today in the EBP platform of NSE. The bank will allotted 10 lakh Non-convertible, Taxable, Redeemable, Unsecured, Fully Paidup Long-Term Bonds in the nature of debentures of face value Rs.1 lakh each on 11 July 2024. Powered by Capital Market - Live News

State Bank of India raised Rs. 10,000 crores today at a coupon rate of 7.36% through its fifth infrastructure bond issuance. The issue attracted overwhelming response from investors with bids in excess of Rs. 19,884 crores and was oversubscribed by around 4 times against the base issue size of Rs. 5,000 crore. The total number of bids received was 143 indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment.Based on the response, the Bank has decided to accept Rs. 10,000 crore at a coupon rate of 7.36% payable annually. This represents a spread of 21 bps over the corresponding FBIL G-Sec par curve. The instrument is rated AAA with stable outlook. With the current issuance, the total outstanding Long-Term Bonds issued by the Bank is at Rs. 49,718 crore. Powered by Capital Market - Live News

State Bank of India has received credit rating for long term bonds and fixed deposits aggregating Rs 99,161 crore at ICRA AAA; Stable. Powered by Capital Market - Live News

India Ratings and Research (Ind-Ra) has taken the following rating actions on State Bank of India (SBI) and its debt instruments:Long term issuer rating - IND AAA/ Stable (affirmed) Long term bonds (yet to be issued) - IND AAA/ Stable  (assigned) Basel III Tier I bonds, Basel III AT1 bonds, Infrastructure bonds and Certificate of deposit - IND AAA/ Stable (affirmed)   Powered by Capital Market - Live News