CURRENT AFFAIRS : BANKING & FINANCE
SBI raises Rs 9,718 crore in a second tranche of infrastructure bonds at 7.70%
- The country’s largest lender, State Bank of India (SBI) has raised Rs 9,718 crore through its second infrastructure bond issuance at a coupon rate of 7.70% per annum for the 15-year money.
- The coupon rate of 7.70% represents a spread of 17 basis points over the corresponding government security yield curve (G-Sec curve) provided by the Financial Benchmarks of India Limited.
- Prior to the latest bond sale, SBI had issued 10-year infrastructure bonds worth Rs 10,000 crore at a coupon of 7.51% on December 6, 2022.
