State Bank of India — Updates, 18-11-2024: Press Release

State Bank of India (SBI) has successfully raised ₹10,000 crores through its latest senior unsecured long-term bond issuance, attracting significant investor interest with bids exceeding ₹11,500 crores. The bonds, issued at a coupon rate of 7.23% for a tenor of 15 years, were oversubscribed more than two times against the base issue size of ₹5,000 crores. A diverse range of investors, including provident funds, pension funds, and insurance companies, participated actively, evidencing robust market demand.

The proceeds from this issuance will be utilized to enhance long-term resources for funding crucial infrastructure and affordable housing projects. This successful raise reinforces SBI's capacity to attract long-duration bonds and supports the development of a longer-term bond market in India. The bonds have been rated AAA with a stable outlook, reflecting strong creditworthiness. Overall, this move strengthens SBI's financial position and could be viewed positively by investors, signaling opportunities for future growth in the infrastructure sector.