State Bank of India (SBI) said it raised ₹4,000 crore via Basel-compliant Additional Tier 1 bonds at a coupon rate of 7.72%.
This is the first issuance of AT1 bonds in the domestic market since SEBI put in place new regulations.
“The issue garnered overwhelming response from investors with bids in excess of ₹10,000 crore received against a base issue size of ₹1,000 crore which is an indicator of the trust the investors place on the bank,” SBI said.
The bank said the coupon rate of 7.72% is the lowest pricing ever offered on such debt, issued by any Indian bank since the implementation of Basel III capital rules in 2013.
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