SBI Secures Rs 5,000 Crore Through AT-I Bonds Offering 7.98% Interest. Banking & Finance | Dated: 09 Nov 2024 Mumbai (Maharashtra)-based State Bank of India (SBI) has raised Rs 5,000 crore through its first Basel III compliant Additional Tier 1 (AT-1) bond issuance for the current financial year (FY2025), offering a coupon rate of 7.98%. 🎯 Key Highlights: - The tenor of these SBI's AT-1 bonds is perpetual, with a call option after 10 years and each anniversary date thereafter. - The issue attracted bids over 3.5 times the base issue size of Rs 2,000 crore. A total of 108 bids were received, reflecting participation from a diverse group of qualified institutional bidders. 💡 Other Important Facts: (i) The participants included provident funds, pension funds, insurance companies, mutual funds, Non-Banking Financial Companies (NBFCs), and banks. (ii) The bonds are rated AA+ with a stable outlook by CRISIL (Credit Rating Information Services of India Limited) and CARE (Credit Analysis and Research Limited) Ratings. (iii) AT-1 bonds are debt instruments issued by banks to raise funds and strengthen their capital base. 📚 Test Your Knowledge: Which bank recently secured ₹5,000 crore through an AT-I bond offering? Correct Answer: SBI 🚀 Quick Recap: About SBI Chairman: Challa Sreenivasulu Setty Headquarter : Mumbai