| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

Bond Market News

SBI plans to raise close to $1.4bn through AT1 and Tier-II bonds

July 22, 2022

Indian state-lender State Bank of India (SBI) plans to raise capital via the issuance of Basel lll compliant debt instruments in USD/INR or any other convertible currency, during the current financial year. The bank looks to raise fresh Additional Tier 1 (AT-1) capital of up to INR 70bn ($880mn), which is subject to Government of India approval. Additional Tier 2 capital up to INR 40bn ($500mn) has also been approved by the board. In September 2021, SBI issued onshore AT1 bonds of INR 40bn ($500mn) in the form of a 7.72% perp, and in December 2021 also raised INR 39.74bn ($500mn) through onshore AT1 bonds via a 7.55% perp. As of March 2022, SBI had a CAR (Capital Adequacy Ratio) of 13.83%, constituting Tier-I at 11.42% and Tier-II at 2.41%.

SBI’s 2.49% 2027 dollar bonds were trading higher at 91.88, up over 0.71 points and yielding 4.50%.

For the full story, click here

Related Posts:
Registered office: 8 Marina View, #43-062 Asia Square Tower 1, Singapore 018960
© Copyright BondbloX 2023, All Rights Reserved.