SBI has successfully raised Rs 5,000 crore through the issuance of its first Basel III-compliant Additional Tier 1 bonds for the current financial year.
The bonds have a coupon rate of 7.98 percent and received bids exceeding 3.5 times the amount offered, indicating strong investor interest.
This issuance follows SBI's earlier successful raise of Rs 5,000 crore in January, which had a higher coupon rate of 8.34 percent.
The latest bonds are perpetual in nature, with a call option available after 10 years and on each anniversary date thereafter, as confirmed in an exchange filing on October 23.