Mumbai, December 02, 2022: State Bank of India (SBI), the country’s largest lender, has raised Rs. 10,000 crores through its maiden infrastructure bond issuance on Friday at coupon rate of 7.51%. This is the largest single infrastructure bond issued by any Bank in the country. The amount raised through bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The tenor of these bonds is 10 years.
The issue attracted overwhelming response from investors with bids of Rs. 16,366 crores and was oversubscribed by about 3.27 times against the base issue. The issuance with 143 bids also demonstrates the confidence of investor class. This also very clearly demonstrates the maturity of Indian investors in their selection of Issuers of such instruments.
Based on the response, the Bank has decided to accept Rs. 10,000 crores at a coupon rate of 7.51% payable annually for a tenor of 10 years. This represents spread of 17 bps over the corresponding Government of India Security, indicates high quality of credit.
SBI Chairman Shri Dinesh Khara said that “Development of infrastructure is a key priority for the country and SBI, being the largest lender, has been in the forefront for advancement of social, green and other infrastructure projects. These long term bonds will help the bank in furthering the cause of infrastructure development”.
The Bank has AAA credit rating from domestic credit rating agencies for these instruments. Infrastructure offers primary facilities that serve various economic activities which helps in the facilitation of the growth of the country & development of the economy through sectors such as healthcare, education, communication, transport, and others.
Bengaluru, India – May 02, 2024 – Agora, Inc.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
India – April 30, 2024 – Solitario, the premier destination for luxury lab-grown diamo
Mumbai - National, 29th April 2024: Greenply Industries Limited, a pioneer in the interior infrastructu
Bengaluru, 29 April 2024: Zepp Health, a global provider of smart wearables and health technology, has announced the launch o
Events / 05-05-2024
TCEI to host the globally renowned, 3rd TCEI SIWPC GLOBAL & 7th TCEI Events Excellence Awards, at Hyderabad in June!Education / 05-05-2024
IIM Kozhikode and Emeritus launch Chief Product Officer Programme Equipping Leaders with Advanced Product Leadership Skills; Features two online modules by Kellogg Executive EducationEducation / 05-05-2024
BML Munjal University institutes School of Liberal Studies Conversations; organizes the Inaugural Edition on ‘Hindi: Vaad-Vivaad-Samvaad’People / 05-05-2024
Telangana voters aim to choose the party which delivers on promises, having learned from Assembly elections let-down: Konda Vishweshwar ReddyKerala / 04-05-2024
Scientists need to check misuse of traditional knowledge: CSIR-NIIST workshop on IPRPelikken © Copyright 2022, All Rights Reserved
