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The State Bank of India (SBI), mentioned it has raised ₹3,717 crore by way of its third Basel III compliant Additional Tier 1 bond issuance within the present monetary yr at a coupon price of 8.25%.
The proceeds will likely be utilised for augmenting Additional Tier 1 Capital and the general capital base of the financial institution and strengthening capital adequacy in accordance with RBI tips.
The tenor of those bonds is perpetual with a name possibility after 10 years and each anniversary thereafter.
(*1*) SBI mentioned in a press release.
Based on the response, the financial institution has determined to just accept ₹3,717 crore at a coupon price of 8.25% payable yearly. This represents the unfold of 66 bps over the corresponding FBIL G-Sec par curve on March 8, 2023.
