In a statement, the country’s largest lender detailed its fundraising efforts, which include Rs 5,000 crore through Additional Tier 1 (AT1) bonds, Rs 15,000 crore through Tier 2 bonds, and Rs 30,000 crore through long-term bonds, all achieved at highly competitive rates.
These bond issues, with tenors of 15 years (except for the perpetual AT1 bonds), received an overwhelming response from investors, with oversubscription exceeding twice the base issue size, SBI said.
SBI Chairman C.S. Setty attributed this success to investor confidence in the bank, highlighting the wide participation and diversity of bids from provident funds, pension funds, insurance companies, mutual funds, and banks.
Last month, SBI also raised funds through AT1 bonds as part of its ongoing efforts to bolster its resources.