Bonds

NaBFID's ₹3,000 crore issue gets 2.8x bids on Friday

State Bank of India, acting through its London branch, has raised USD 500 million by issuing bonds at a coupon rate of 5.25 per cent. The 'Regulation S' bond is benchmarked against the 5-year US Treasury and priced at a spread of 88 bps over the benchmark, SBI said in a statement on Thursday. 'Regulation S' tagged instruments are exempt from registration requirements of the US Securities and Exchange Commission (SEC) and can be issued outside the United States. The bonds will be listed on SGX-ST, India INX and NSE-IX, it said. The transaction received an overwhelming response and saw strong interest from investors across geographies, with a peak order book of USD 2.46 billion with 145 investors. SBI Chairman CS Setty said, "The successful pricing of USD 500 million, during the ongoing global uncertainties, is a testament to the strong appetite for bonds of SBI and to the diversified investor base the Bank has in offshore capital markets, allowing it to efficiently raise funds from

RBI eases bulk deposit pricing The RBI has allowed banks to offer different interest rates on bulk deposits based on their liquidity profile under the Liquidity Coverage Ratio framework.

This is ICICI Bank's first dollar bond issuance since 2017 and also the largest single tranche dollar bond issuance by an Indian issuer in 2026

Order book settled at about 1.6 times the deal size, below this year's average for US investment-grade bonds, as AI-related debt issuance continues to surge

India Infrastructure Finance Company on Sunday said it has raised Rs 1,848 crore by issuing non-convertible debentures (NCDs) to fund infra projects in the country. The issue attracted an overwhelming response from investors, attracting bids worth Rs 3,048 crore, representing nearly 6 times the base issue size of Rs 500 crore, India Infrastructure Finance Company Ltd (IIFCL) said in a statement. Finally, IIFCL decided to retain Rs 1,848 crore with a coupon of 7.25 per cent per annum. The bonds have a maturity of 4 years, 11 months and 2 days. The successful issuance reflects the strong confidence of institutional investors in IIFCL's sound financial position, prudent governance practices and its strategic role as the government's dedicated infrastructure financing institution, it said. The Board of IIFCL has approved an ambitious resource mobilisation programme of Rs 34,200 crore for 2026-27 to support the growing financing requirements of India's infrastructure sector, it said, ..

Governor Sanjay Malhotra says investor-friendly measures are being rolled out as India seeks inclusion in Bloomberg's Aggregate Bond Index

FPIs pull out nearly ₹13,000 crore in June and the rupee continues to be under pressure

Expectations of cash withdrawal operations and a possible increase in banks' cash reserve ratio are seen limiting further gains in short-term bonds

State Bank of India (SBI) on Thursday said its board has approved a proposal to raise up to Rs 60,000 crore in the current fiscal through the issue of debt instruments. The funds would be raised either in rupee and /or any other convertible currency by issue of debt instruments like long-term bonds, Basel III-compliant Additional Tier 1 Bonds and Basel III compliant Tier 2 Bonds. The funds would be raised through public offer or private placement mode to Indian and /or overseas investors during FY27, SBI said in a regulatory filing. Shares of SBI were trading at Rs 1,040.25, up 1.39 per cent over previous close on BSE.

Benchmark 6.94 per cent 2036 yield seen at 6.85-6.90 per cent after US rate-hike signals lift Treasury yields

Global fund managers are turning more positive on India, citing improved policy flexibility and stronger differentiation from other emerging bond markets

The amount raised exceeded last week's mobilisation but fell short of the indicated borrowing calendar, with yields supported by softer government bond rates

Seeking to shore up the rupee ‌and interest in bonds, India last week announced ​tax cuts for overseas bond investors ​and a host of measures aimed at boosting inflows and improving market access

Both banks are targeting to raise around $500 million through five-year dollar bonds

After securing entry into JPMorgan, Bloomberg EM and FTSE Russell indexes, India is now pushing for inclusion in Bloomberg's Global Aggregate Index

Indian corporate bond yields have eased after the Reserve Bank of India maintained key policy rates unchanged last week, providing some relief to the market

Global funds bought ₹4,490 crore ($469 million) worth of index-eligible bonds on Friday, the most since June 30, 2025, when the government scrapped taxes on overseas investment in govt securities

India's possible inclusion in Bloomberg's global bond benchmark could bring foreign inflows, lower borrowing costs and deepen global participation in its debt market

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