Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    360 ONE acquires Mumbai Angels; announces two new funds with them

    January 23, 2023

    Kotak General Insurance partners with Clootrack to enhance customer centricity

    January 23, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » SBI raises Rs 4,000 crore via bonds
    Banking

    SBI raises Rs 4,000 crore via bonds

    The bank said the bond issue witnessed overwhelming response from investors, attracting bids worth Rs 9,647 crore, which was oversubscribed by about five times against the base issue size of Rs 2,000 crore.
    September 22, 20221 Min ReadBy Bfsinxt Desk
    Twitter LinkedIn WhatsApp

    India’s largest bank, State Bank of India on Wednesday said it has raised Rs 4,000 crore by issuing bonds at a coupon rate of 7.57 percent and the fund has been raised by issuing Basel III compliant tier II bonds.

    The bank said the bond issue witnessed overwhelming response from investors, attracting bids worth Rs 9,647 crore, which was oversubscribed by about five times against the base issue size of Rs 2,000 crore.

    “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 crore at a coupon rate of 7.57 per cent,” SBI said in a release.

    The coupon will be 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 (basis points) — one basis points is 100th of a percentage point — over 10-year Government securities (G-sec), SBI said.

    SBI said it has AAA (stable) credit rating from domestic credit rating agencies for these instruments.

    Previous ArticleSustainability of FinTech is about customer protection, cyber security, managing financial integrity and strong data protection, says RBI Governor Das
    Next Article Thomas Devasia assumes charge as member (Non-Life) in IRDAI
    Bfsinxt Desk

    Related Posts

    AU Small Finance Bank introduces menstrual leaves for women employees

    January 18, 2023

    ICICI Bank launches digital solutions for exporters

    January 7, 2023

    SIDBI partners with M1xchange as financier to provide more liquidity to MSMEs

    December 19, 2022

    AU Small Finance Bank and HDFC Life announce Bancassurance tie-up

    December 19, 2022

    Leave A Reply Cancel Reply

    Recent Posts

    • PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
    • 360 ONE acquires Mumbai Angels; announces two new funds with them
    • Kotak General Insurance partners with Clootrack to enhance customer centricity
    • Upstox partners with ‘Trading View’ to empower traders with simplicity
    • AU Small Finance Bank introduces menstrual leaves for women employees

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022
    New Policy
    Policy

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 20220By Bfsinxt Desk

    The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022

    RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System

    October 8, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.