The issue had a base size of 20 billion rupees and a greenshoe option to retain an additional 80 billion rupees as well as a call option at the end of the 10 years. 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, when it had raised 68.72 billion rupees at a coupon of 7.75%. ($1 = 82.6830 Indian rupees) (Reporting by Bhakti Tambe; Editing by Sonia Cheema)
bhakti.rajendratambe.thomsonreuters.com@reuters.net Twiter: )) MUMBAI, Feb 20 (Reuters) - The State Bank of India has set a coupon of 8.20% on its Basel III-compliant
additional Tier-1 perpetual bonds, three merchant bankers said
on Monday.
The state-run lender has accepted bids worth 45.44 billion
rupees (about $550 million) on this issue, for which it had
invited bids earlier in the day.
The bonds are rated AA+ by CRISIL and the issue will settled
on Tuesday.
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