SBI retail bond issue gets encouraging response

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SBI
New Delhi, Oct 19: State Bank of India"s (SBI) first retail bond issue, which opened on Monday, Oct 19, has received encouraging response from the investors.

The retail bond issue of Rs 1,000 crore was subscribed over 17 times on the opening day.

The aggregate total of Rs 1,000 crore breaks down to bonds worth Rs 500 crore, with an option to raise it further upto Rs 500 crore by issuing additional bonds.

The bonds, which are proposed to be listed on National Stock Exchange (NSE), would offer an interest of 9.25 per cent for 10 years and 9.5 per cent for 15 years.

Country"s largest lender's debut bond issue will close on Monday, Oct 25.

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