SBI’s Tier 2 Bonds oversubscribed more than 2 times

Investors continued to repose their trust in SBI by bidding for more than 2.20 times of the basic issue size of the Tier II Bond issue of Rs.2000 crores, which was one of the largest issues of Tier II Bonds in recent times. Key investors include mutual funds, pension funds, insurance companies, corporate treasuries, primary dealers and banks. The issue more than adequately meets the entire Tier II Capital requirement of SBI for the current year. Commenting on this, Mr.Prashant Kumar, DMD & CFO - SBI stated “We are delighted at the response received from the Investors for SBI’s growing Capital requirements to fund its growth. We also thank SBICaps for their role as the arranger and NSE for providing the Electronic Bidding Platform for Investors to submit their bids.” “We congratulate SBI for successfully raising Additional Tier 2 Bonds on the NSE EBP Platform at a very competitive pricing, with an oversubscription of around two times. NSE EBP is the preferred platform for marquee issuers for their debt private placements and we thank SBI for partnering with us for this important issuance”, said Mr Vikram Limaye, MD & CEO, NSE.