SBI’s bonds are likely to have a five-year call option, implying that the pricing benchmark would be the five-year government security
State Bank of India
(SBI), the country’s largest lender, is likely to issue additional tier-I (AT-1) bonds worth Rs 7,000 crore in a single tranche around the end of August, sources told Business Standard.
Last month, SBI’s board had provided approval for raising up to Rs 11,000 crore via additional tier-I and tier-II bonds to meet regulatory requirements and support business growth.
“Their (SBI’s) plan is to issue it around August 24. Generally, they do it in two tranches, but they might want to do it in one tranche because their whole year requirement is only Rs 7,000 crore,” a treasury official aware of the developments said.
First Published: Aug 03 2022 | 6:30 PM IST