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SBI Raises 5,000 Crore via Basel III Bonds

Basel III is a global regulatory framework designed to strengthen the regulation, supervision, and risk management of banks.
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State Bank of India (SBI) announced on Wednesday that it has successfully raised ₹5,000 crore through the issuance of its first Basel III-compliant Additional Tier 1 (AT1) bonds for the ongoing financial year.

The bonds carry a coupon rate of 7.98%, the bank said in a statement. These perpetual bonds come with a call option after 10 years and on subsequent anniversaries.

SBI highlighted the overwhelming response from investors, with bids exceeding 3.5 times the base issue size of ₹2,000 crore. A total of 108 bids were received, reflecting participation from a wide array of qualified institutional bidders, including provident funds, pension funds, insurance companies, mutual funds, NBFCs, and banks.

SBI Chairman C S Setty expressed satisfaction over the broad participation, stating that it demonstrates the confidence investors have in India’s largest bank.

Considering the robust demand, SBI decided to accept ₹5,000 crore at the coupon rate of 7.98%, payable annually. The bank underscored that this issuance is significant for diversifying and raising long-term non-equity regulatory capital.


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