Business Standard

SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%

Lender claims overwhelming response from investors, with bids of Rs 9,647 crore; issue oversubscribed 5x against base size of Rs 2,000 crore

state bank of india, sbi, banks, bank branch

BS Reporter Mumbai
The country’s largest lender, State Bank of India, announced on Wednesday that it has raised an amount of Rs 4,000 crore through tier-2 bonds at a cutoff rate of 7.57 per cent.

“The issue attracted an overwhelming response from investors with bids of Rs 9,647 crore and was oversubscribed by about 5 times against the base issue size of Rs 2,000 crore,” the bank said.

The bonds have a tenure of 15 years with a call option after 10 years, SBI said, adding that the instruments are rated AAA (stable) by credit rating firms.

The public sector bank had sold

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 21 2022 | 9:22 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to