SBI raises ₹10,000 crore from tier-2 bonds – Times of India

MUMBAI : SBI has raised Rs 10,000 crore at a coupon rate of 7.81% through its first BaselIII compliant tier-2 issue in the current fiscal. Although the bonds come with a 15-year tenor, there is a first call option after 10 years. Bond dealers said that the coupon was slightly on the higher side as yields have gone up internationally ahead of the US Federal Open Market Committee meeting.There are concerns that theFed may hike rates one more time.



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