SBI raises Rs 10,000 crore through 15-year infrastructure bonds at 7.23%

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SBI raises Rs 10,000 crore through 15-year infrastructure bonds at 7.23% - Business Standard

Quick Summary:

Market participants said corporate bond yields have increased by approximately 10 basis points, generating renewed investor interest.“SBI concluded another infrastructure bond issuance (third tranche this fiscal) with an aggressive cut-off yield of 7.23 per cent.

Money raised through infrastructure bonds is advantageous for banks because it is exempt from regulatory reserve requirements such as the Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR).

With this tranche, SBI has successfully mobilised Rs 30,000 crore through infrastructure bonds in the current fiscal year,” said Venkatakrishnan Srinivasan, founder & managing partner, Rockfort Fincap LLP.