SBI raises Rs.100 billion via infrastructure bonds

09 Dec 2024 CW Team

State Bank of India (SBI) has raised Rs.100 billion at a coupon rate of 7.23 per cent through its seventh infrastructure bond issuance. The issue attracted overwhelming response from investors with bids in excess of Rs.115 billion and was oversubscribed in excess of two times as against the base issue size of Rs.50 billion.

The total number of bids received was 85 indicating wider participation with heterogeneity of bids. The instrument is rated AAA with a stable outlook. This issuance is also very significant as the bank has been successful in raising long duration bonds successively.

CS Setty, Chairman, SBI said that this issuance will help in developing a long-term bond curve and encourage other banks to issue bonds of longer tenor. Infrastructure bonds are used to finance long-term development projects.

SBI's infrastructure loans jumped 8.86 per cent in the July-September quarter. It currently has over Rs.4 trillion of outstanding loans in this sector, with the bank expecting more demand for such credit. Indian banks have raised a record Rs.740 billion through the sale of infrastructure bonds in this financial year, with SBI topping with Rs.300 billion of such notes.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..