State Bank of Baroda on Tuesday said it has raised Rs 5,000 crore through issuance of long-term infrastructure bonds.
The lender said it was a 10-year bond issued with a coupon of 7.30 percent, according to an official statement.
It is worth noting that a number of Indian lenders, including SBI, have raised funds through the infrastructure bond route of late.
After launching the issue, the bank received 146 bids worth over Rs 15,000 crore and settled by accepting bids worth Rs 5,000 crore, the statement said.
The base issue was Rs 2,000 crore, while the call option enabled subscriptions to be retained for an additional Rs 3,000 crore, it added.
These bonds are senior, unsecured, listed, rated and taxable bonds with a fixed maturity of 10 years from the date of allotment, it said, adding that they are rated AAA with a stable outlook by Crisil and India Ratings.
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