Question
Download Solution PDFState Bank of India (SBI) recently raised Rs 9,700 crore through its second infrastructure bond issuance. This latest issuance is very significant considering this is the first time an Indian bank is issuing ___________ long-term infrastructure bonds
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 15-year.
In News
- State Bank of India (SBI) on January 18 raised Rs 9,700 crore through its second infrastructure bond issuance.
Key Points
- The issued bonds carry a coupon rate of 7.70% per annum and the tenure of these bonds is 15 years.
- The issue received 118 bids.
- SBI will utilise the proceeds to enhance long-term resources for funding infrastructure and the affordable housing segments, it said in a press release.
- Before this, the bank had raised infrastructure bonds of Rs 10,000 crore on December 6, 2022.
- The bank has an ‘AAA’ credit rating from domestic credit rating agencies for these instruments.
- This latest issuance is very significant considering this is the first time an Indian bank is issuing 15-year long-term infrastructure bonds, helping the bank in long-term lending to the infrastructure segment.
Additional Information
- The State Bank of India descends from the Bank of Calcutta founded in 1806, via the Imperial Bank of India, making it the oldest commercial bank in the Indian subcontinent.
- Founded: 1 July 1955
- Headquarters: Mumbai
- Chairman: Dinesh Kumar Khara
- Tagline: The Banker To Every Indian
Last updated on Jun 13, 2025
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