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MUMBAI: SBI, the country’s largest lender, has raised Rs 5,000 crore through its second Basel III-norms compliant additional tier-1 bond issue for the current financial year.
Investors have turned wary of AT-1 bonds (quasi-equity instruments) after such bonds of Yes Bank were written off as part of a restructuring plan in 2020. SBI accepted Rs 5,000 crore at a coupon rate of 8.34%.This issuance is significant for SBI as it marks a successful effort to secure long-term non-equity regulatory capital.
Investors have turned wary of AT-1 bonds (quasi-equity instruments) after such bonds of Yes Bank were written off as part of a restructuring plan in 2020. SBI accepted Rs 5,000 crore at a coupon rate of 8.34%.This issuance is significant for SBI as it marks a successful effort to secure long-term non-equity regulatory capital.
#SBI #nets #crore #AT1 #bonds
