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State Bank of India raises Rs.4,691-Cr through Tier I bonds

BSE Announcement   Business Line  

State Bank of India has raised INR 4,691 crore via a Basel III compliant Additional Tier 1 (AT-1) bond issuance. The issuance carries a coupon rate of 7.75 percent, payable annually. The bank initiated the fundraise with a base issue size of INR 3,000 crore and saw a subscription response exceeding 2 times, receiving 89 bids from a diverse group of investors, including mutual funds, pension funds, provident funds, and banks.