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SBI raises Rs.6,051-Cr via Tier 2 bonds at 7.05%

Business Standard  

State Bank of India (SBI) has raised INR 6,051 crore through its second Basel III-compliant Tier 2 bond issuance for the current financial year. The bonds carry a coupon rate of 7.05% and have a tenor of 10 years.The issue attracted diverse institutional investors, including provident funds, pension funds, mutual funds, and banks. The bond issuance was oversubscribed, receiving about twice the bids against the base issue size of INR 5,000 crore, with a total of 47 bids from qualified institutional bidders