This is the bank's first Basel III compliant Additional Tier 1 bond for the current financial year.The bonds have a five year call option when SBI can buy back the bond and with each anniversary date thereafter, the bank said.SBI chairman C S Setty, said that the bond attracted a wide participation of investors with did kinds bids demonstrating the trust investors place in the country’s largest bank.
This issue attracted a robust response from investors with bids of more than 2 times against the base issue size of Rs 3,000 crores.
The total number of bids received was 89 indicating participation from diverse set of qualified institutional bidders.
