SBI raises Rs 4,000 crore via AT1 bonds, coupon fixed at 7.72%

This was SBI's first such issuance at home after Sebi's new rules; bids in excess of Rs 10,000 crore were received against a base issue size of Rs 1,000 crore

The country’s largest lender State Bank of India (SBI) has raised Rs 4,000 crore in capital through the Basel compliant Additional Tier 1 (AT1) bonds. The coupon for AT-1 bonds was fixed at 7.72 per cent.

This was SBI's first AT1 Bond issuance in the domestic market after the new Sebi regulations kicked in. The issue garnered an overwhelming response from investors, with bids in excess of Rs 10,000 crore received against a base issue size of Rs 1,000 crore, SBI said in a statement.

Based on the response, the Bank decided to accept Rs 4,000 crore at a coupon