India, July 29 -- State Bank of India (SBI) has raised Rs 4,691 crore through the issuance of Basel III-compliant Additional Tier-1 (AT-1) bonds to strengthen its capital base and support future business growth.
This marks the bank's first AT-1 bond issuance in the current financial year. The perpetual bonds carry a coupon rate of 7.75% and come with a call option after five years, with subsequent call options available on every anniversary thereafter.
The capital raised will help SBI enhance its capital adequacy and support the expansion of its lending and business operations.
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