SBI: The largest lender in the nation, State Bank of India (SBI), intends to issue infrastructure bonds of Rs 10,000 crore during the current fiscal year, the Business Standard reported.
“We inform that a meeting of the Executive Committee of the Central Board of State Bank of India is scheduled to be held on Tuesday, 29th November 2022 to consider inter alia…to seek approval for raising of Infrastructure Bonds up to an amount of Rs 10,000 crore through a public issue or private placement, during FY23,” the bank informed exchanges on Thursday.
A greenshoe option of Rs 5,000 crore is included in the planned offering worth Rs 10,000 crore, the bank said. According to sources cited by Business Standard, the duration of the infrastructure bonds will likely be 10 years.
“SBI is planning to raise 10-year infrastructure rated AAA from Icra and India Ratings for a quantum of Rs 5,000 crore, plus Rs 5,000 crore, totalling Rs 10,000 crore,” a source said.
