SBI raises ₹10,000 crore through infra bond issue
The Hindu
The tenor of these bonds is 15 years
State Bank of India (SBI) said it had raised ₹10,000 crore at a coupon rate of 7.54% through its third infrastructure bond issuance, the bidding for which was held on Monday.
The proceeds from the bonds would be utilised in enhancing long-term resources for funding infrastructure and the affordable housing segment, SBI said in a statement. The tenor of these bonds is 15 years. “The issue attracted overwhelming response from investors with bids of ₹21,698 crore and was oversubscribed by 4.34 times against the base issue size. The total number of bids received were 115 indicating wide participation,” the lender said.
The investors were across provident funds, pension funds, insurance companies, mutual funds and corporates, it said. “Based on the response, the bank has decided to accept ₹10,000 crore at a coupon rate of 7.54% payable annually for a tenor of 15 years. This represents spread of 13 bps over the corresponding FBIL G-Sec par curve,” SBI added.
Telangana Legislature's winter session on December 9, 2024 to focus on new legislation, rectifying past Acts, and addressing social indicators and financial issues.
Central government officials raise concerns over vague replies on vacancies and recruitments in Central ministries, highlighting data discrepancies.
Supreme Court directs five states to provide facts on illegal sand mining activities, emphasizing the need for control.
Vazhndhu Kattuvom scheme in Tiruchi district empowers women entrepreneurs through vocational training and e-commerce platforms for business growth.
Chennai airport passengers face challenges with defective trolley wheels, but improvements are underway by AAI officials.
J&K leaders oppose new railway lines cutting through agriculture and horticulture land in south Kashmir, citing ecological and livelihood concerns.
Preliminary study at IIT Madras' Vana Vani School raises concerns over unauthorized clinical trials on students.
Shortage of clinical psychologists in India due to discontinuation of MPhil program raises concerns about education and accreditation standards.
Producers of Tamil movie Amaran apologize for displaying student's number, leading to legal action and removal of scene.
Telangana Chief Minister initiates recruitment of transgender Traffic Assistants in Hyderabad Police for inclusivity and representation.
Forest Minister K. Ponmudy launches 60 mobile medical units for Cyclone Fengal relief in Villupuram district.