Home / News

Economy

  • 20

SBI raised Rs. 4,000 Crore Tier 2 bonds

SBI raised Rs. 4,000 Crore Tier 2 bonds

Mumbai, September 22, 2022: State Bank of India (SBI), the country’s largest lender, raised Rs. 4,000 crores Basel III compliant Tier 2 bonds on Wednesday, September 21, 2022, at a coupon rate of 7.57%. The issue attracted an overwhelming response from investors with bids of Rs. 9,647 crores and was oversubscribed by about 5 times against the base issue size of Rs. 2,000 crores. This is an indicator of the trust the investors place in the country’s largest bank.

 

Based on the response, the Bank has decided to accept Rs. 4,000 crores at a coupon rate of 7.57% payable annually for a tenor of 15 years with a call option after 10 years and on anniversary dates, thereafter. This represents a spread of 14 bps over 10-year Gsec. The 10-year SDL cut-off was 7.69% annualized on September 20, 2022.

 

The Bank has AAA (stable) credit rating from domestic credit rating agencies for these instruments.

Previous News

Technology News

Samsung Announces Exciting Cashback and Affordability Offers on Galaxy A Series Smartphones for Festive Season

Samsung Announces Exciting Cashback and Affordability Offers on Galaxy A Series Smartphones for Festive Season

Gurugram, India – October 11, 2023: Samsung announced exciting offers

HMD Nokia G42 5G (16GB+256GB) Variant Launched: With Snapdragon 480 Plus 5G Chipset Powers & Stylish Colours

HMD Nokia G42 5G (16GB+256GB) Variant Launched: With Snapdragon 480 Plus 5G Chipset Powers & Stylish Colours

Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G

IN-SPACe unveils Decadal Vision & Strategy for Indian Space Economy

IN-SPACe unveils Decadal Vision & Strategy for Indian Space Economy

Bengaluru, October 10, 2023  IN-SPACe (Indian National Space Promotion and

Philips OneBlade Partners with College Rivals for an Epic Gaming Journey Enabling Gen Z to ‘Move Fearlessly’

Philips OneBlade Partners with College Rivals for an Epic Gaming Journey Enabling Gen Z to ‘Move Fearlessly’

New Delhi, October 3, India- Philips India announces an exciting co

Latest Business News

SANY India partners with J&K Bank to provide financial solutions to its customers

SANY India partners with J&K Bank to provide financial solutions to its customers

Mumbai, March 13, 2024SANY India, a leading manufacturer of construction equipment, has taken a

Radisson Hotel Group strengthens footprint in Ayodhya with signing of 150-room Radisson Blu Hotel, Ayodhya

Radisson Hotel Group strengthens footprint in Ayodhya with signing of 150-room Radisson Blu Hotel, Ayodhya

Continuing its expansion plan in India, Radisson Hotel Group is excited to announce the signing of 150-room Radisson Blu Hotel, Ayodhya. A greenfie

cheap anastrozole arimidex over the counter order anastrozole pills

order clarithromycin 500mg generic clarithromycin 500mg over the counter buy meclizine generic

buy naproxen 500mg generic order lansoprazole 30mg for sale prevacid 30mg us

spiriva cheap generic hytrin 1mg hytrin 1mg cheap

proventil price buy pantoprazole 20mg sale ciprofloxacin 1000mg pill

buy actos 15mg pill brand viagra over the counter viagra

order singulair for sale montelukast price buy viagra sale

order cialis 40mg pills Free cialis online casino gambling

cialis from india Real cialis for sale cialis 5mg tablet

gambling casino casino free spin best play money poker sites

ivermectin over the counter purchase avlosulfon online cheap order avlosulfon 100 mg sale

poker online games playing poker online gambling meaning

real poker online writing assignments help with essays

order nifedipine online cheap buy aceon allegra 120mg uk

altace 10mg canada order amaryl 1mg without prescription arcoxia 120mg canada

my favorite writer essay buy sulfasalazine pills buy azulfidine 500 mg

order doxycycline 200mg without prescription albuterol pills cleocin uk

purchase olmesartan online cheap verapamil 240mg brand divalproex pill

oral mesalamine 800mg avapro cost irbesartan 150mg sale

purchase diamox online cheap imuran 25mg ca imuran pills