SBI raises Rs 5,000 crore in Basel III compliant AT1 bonds with 7.98% coupon rate, attracting 3.5x oversubscription.
State Bank of India (SBI) has raised ₹5,000 crore through its first Basel III compliant Additional Tier 1 bond issuance of the financial year, offering a coupon rate of 7.98%. The issuance attracted bids exceeding 3.5 times the base amount of ₹2,000 crore, demonstrating strong investor confidence. These perpetual bonds feature a call option after 10 years and are aimed at bolstering the bank's core equity capital amidst favorable market conditions.
October 23, 2024
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