State Bank of India (SBI) has successfully raised Rs 10,000 crore through its seventh tranche of infra bonds, with 85 bids received from heterogeneous investors. The issue was oversubscribed by more than two times, with bids exceeding Rs 11,500 crore. The bonds will have a coupon rate of 7.23% and a tenure of 15 years, and are rated AAA with a stable outlook. With this issuance, SBI has raised Rs 30,000 crore in infra bonds this fiscal, bringing the total long-term bonds outstanding to Rs 59,718 crore. The proceeds will be used to fund infrastructure and affordable housing projects. The issue’s success is significant, as it will help SBI develop a long-term bond curve and encourage other banks to issue longer-tenure bonds.

Source: https://www.newindianexpress.com/business/2024/Nov/18/sbi-mops-up-rs-10000-crore-from-seventh-infra-bond-sale