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State Bank of India raises Rs 4,000 crore through bonds

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State Bank of India raises Rs 4,000 crore through bonds

New Delhi, Sep 21 (PTI) State-owned State Bank of India (SBI) on Wednesday said it has raised Rs 4,000 crore by issuing bonds at a coupon rate of 7.57 per cent.

This amount has been raised through issuance of Tier-II bonds in line with Basel-3 norms.

SBI said the bond issue witnessed strong investor response. It received bids worth Rs 9,647 crore, which is almost five times the original issue size of Rs 2,000 crore.

“This is a symbol of investor confidence in the country’s largest bank,” SBI said in a release.

The bank decided to raise Rs 4,000 crore based on investor feedback at a coupon rate of 7.57 per cent.

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