State Bank of India (SBI) on Wednesday raised 10,000 crore through 15-year infrastructure bonds to fund projects in sectors like power and roads.
The coupon rate for bonds is 7.36 per cent.
With the current issuance, the total outstanding longterm bonds issued by the country's largest bank is at ₹49,718 crore.
SBI Chairman Khara said that this issuance will help in developing a longterm bond curve and encourage other banks to issue bonds of longer tenor.
The coupon of 7.36 represents a spread of 21 bps over the corresponding government bond yield curve. The instrument is rated AAA with stable outlook. Earlier, it had placed a 15-year infrastructure bond at a coupon of 7.49 per cent in September 2023.
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