Live
- 2024 on track to be hottest year on record
- PM Modi’s visit to Solapur: Women applaud ‘Double-Engine’ government’s initiatives
- Nagarkurnool MLA Dr. Kuchukulla Rajesh Reddy Campaigning in Maharashtra Elections
- Wife Kills Husband with Her Lover: Details of Veldanda Murder Case Revealed by SP Gaikwad
- Strict Action on Violations of Food Rights: Telangana Food Commission Chairman Goli Srinivas Reddy
- Smooth Conduct of Group-3 Exams with Strict Security Measures: Collector Badavath Santosh
- Delhi HC orders cancellation of LOC issued against Ashneer Grover, wife
- Shami’s absence a major blow for India in BGT, says Paul Adams
- Will organize protests at borders if attack on minority Hindus in Bangladesh not stopped: Bengal LoP
- Dutch Ambassador Marisa Gerard Meets Telangana CM A. Revanth Reddy in Delhi
SBI raises Rs 4,000 crore via AT1 bonds
SBI raises Rs 4,000 crore via AT1 bonds
Lending major State Bank of India (SBI) has raised Rs 4,000 crore through the 'Basel compliant Additional Tier 1' (AT1) bonds, on Wednesday at a coupon rate of 7.72 per cent.
Mumbai: Lending major State Bank of India (SBI) has raised Rs 4,000 crore through the 'Basel compliant Additional Tier 1' (AT1) bonds, on Wednesday at a coupon rate of 7.72 per cent. This is the first AT1 Bond issuance in the domestic market post the new SEBI regulations. The regulations have come after regulator created a storm putting restrictions on MF investment in such bonds which are most popular among banks to raise funds.
"The issue garnered an overwhelming response from investors with bids in excess of Rs 10,000 crore received against a base issue size of Rs 1,000 crore which is an indicator of the trust the investors place on the country's largest bank," the SBI said.
"This also very clearly demonstrates the maturity of the Indian investors in their selection of Issuers for such instruments. "This is the lowest pricing ever offered on such debt, issued by any Indian bank since the implementation of 'Basel III' capital rules in 2013." "The AT 1 instrument is perpetual in nature, however, it can be called back by the issuer after five years or any anniversary date thereafter."
