India New Issue-SBI to issue perpetual bonds, bankers say
India New Issue-SBI to issue perpetual bonds, bankers say MUMBAI, July 28 (Reuters) - State Bank of India SBI.NS plans to raise 50 billion rupees ($521.38 million), including 20 billion rupees of greenshoe option through the sale of Basel III-compliant additional Tier I perpetual bonds, three bankers said on Tuesday.
The nation's largest lender has invited coupon and commitment bids for the issue on Wednesday, they said.
The issue will have a call option at the end of five years.
On Friday, Reuters reported SBI's plans to tap the perpetual debt route, which would be the first such issuance in 2026.
SBI did not immediately reply to a Reuters email seeking comment.
Here is the list of deals reported so far on July 28:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
SBI | perpetual | To be decided | 30+20 | July 29 | AA+ (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 95.9000 Indian rupees)
(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Priyanka G)
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