Mumbai: State Bank of India has raised ₹10,000 crore at a coupon rate of 7.23 per cent through its seventh infrastructure bond issuance, payable annually for a tenor of 15 years, according to an exchange filing.
“The issue attracted overwhelming response from investors with bids in excess of ₹11,500 crores and was oversubscribed in excess of 2 times against the base issue size of ₹5,000 crore. The total number of bids received was 85 indicating wider participation with heterogeneity of bids,” the notice said.
Investors including provident funds, pension funds, insurance companies and mutual funds participated in the fund raise and the proceeds of bonds will be utilised in enhancing long term resources for funding infrastructure and affordable housing segment.
Separately, the lender said it has also concluded the issue of $500 million Senior Unsecured Fixed Rate Notes having maturity of 5 years and coupon of 5.125 per cent payable semi-annually.
The bonds will be issued through SBI’s London branch on November 25 and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City.