The state-run lender is likely to invite bids for the proposed bond issue later this month, they said.
The issue will also have a greenshoe option to retain an additional 80 billion rupees and a call option at the end of the fifth year or 10th year, bankers said.
The bonds are rated AA+ by CRISIL.
SBI is yet to make an official announcement on the planned
bond sale. It did not immediately respond to Reuters request for
comment.
In January, SBI raised 97.18 billion rupees through
infrastructure bonds maturing in 15 years at a coupon of 7.70%.
The lender last issued perpetual bonds in September, where
it had raised 68.72 billion rupees at a coupon of 7.75%.
($1 = 82.6600 Indian rupees)
(Reporting by Bhakti Tambe; editing by Eileen Soreng)
