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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
