New Delhi, Oct. 2 -- State Bank of India , the country's largest lender, led the demand for Reliance Industries' 130-billion-rupee ($1.35 billion) 10-year debt sale completed on Wednesday, according to five sources familiar with the transaction.

The state-run bank is estimated to have bought bonds worth nearly 50 billion rupees, or about 40% of the offering, they said. The bonds were rated "AAA" by rating agencies Crisil and CareEdge, and carried an annual coupon of 7.90%.

An AAA rating is the highest credit rating, indicating an exceptionally strong capacity to meet debt obligations and a very low risk of default.

Indian companies have accelerated domestic borrowing to secure funding costs before a potentially tighter monetary-policy ...