SBI raises ₹10,000 crore from infra bond issue

Pension, provident and mutual funds and insurance firms invested, SBI said, adding proceeds would be used for affordable housing and infrastructure 

Updated - July 10, 2024 10:38 pm IST

Published - July 10, 2024 08:51 pm IST - MUMBAI

The logo of the State Bank of India

The logo of the State Bank of India | Photo Credit: REUTERS

 State Bank of India (SBI), said it raised ₹10,000 crore at a coupon rate of 7.36% payable annually for a 15-year term, through its sixth infrastructure bond issue.

“The issue attracted overwhelming response from investors with bids in excess of ₹18,145 crore and was oversubscribed by around 3.6 times against the base issue size of ₹5,000 crore,” it said.

Pension, provident and mutual funds and insurance firms invested, SBI said, adding proceeds would be used for affordable housing and infrastructure. 

With the current issue, the total outstanding Long-Term Bonds issued by the bank is at ₹59,718 crore. 

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