SBI raises Rs 9,718 cr via second tranche of infrastructure bonds at 7.70%

This is the second fund-raising since early December when it had mopped up Rs 10,000 crore via infra bonds

State Bank of India (SBI), the country’s largest lender, raised Rs 9,718 crore through the issuance of 15-year infrastructure debt on Wednesday, with the bonds bearing a coupon of 7.70 per cent.

The coupon is the rate of interest that is periodically paid out to investors. The investors included mutual funds, provident and pension funds and insurance companies, SBI said through a release.

“The fund proceeds will be utilized in enhancing long-term resources for funding infrastructure and the affordable housing segment. The issue attracted an overwhelming response from investors with bids of Rs. 14,805 crores and was oversubscribed