SBI raises Rs4,000 crore via AT1 bonds
- While SBI has AAA credit rating from local credit agencies, the AT1 offering is rated AA+, which is the highest rating in the country for such instruments, given their hybrid and high-risk nature
MUMBAI: The country’s largest lender State Bank of India (SBI) on Wednesday said it has raised Rs4,000 crore via additional Tier 1 bonds at a coupon rate of 7.72%, the first such issuance in the domestic market after the Securities and Exchange Board of India issued new rules.
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