SBI nets Rs 5k crore through AT-1 bonds at 8.3%

11 months ago 16

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.

Article From: timesofindia.indiatimes.com
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