State Bank of India has successfully concluded the bidding process for its Basel III compliant Tier 2 bond issuance via the NSE EBP platform. The total issue size was ₹6,051 crore, with a fixed coupon rate of 7.05%. The bonds are non-convertible, taxable, and subordinated, with the deemed date of allotment set for March 20, 2026, and a final maturity date of March 20, 2036.
Completion of Tier 2 Bond Bidding Process
State Bank of India (SBI) has announced the successful conclusion of the bidding process for its recent issuance of Basel III compliant Tier 2 bonds. This placement was conducted today on the Electronic Book Building (EBP) platform of the National Stock Exchange (NSE).
Key Details of the Bond Issuance
The specifics of the issued debt instrument are detailed below, highlighting the structure and size of the transaction:
- Issue Type: Non-convertible, Taxable, Redeemable, Subordinated, Unsecured, Fully Paid-up Basel III compliant Tier 2 Bonds (in the nature of debentures).
- Face Value per Bond: Rs.1 crore each.
- Total Issue Size: ₹6,051 crore.
- Number of Bonds Issued: 6,051.
- Coupon Rate: 7.05%.
- Total Bids Received: 47.
Timeline and Redemption Schedule
The critical dates associated with the allotment and maturity of these bonds are confirmed as follows:
- Issue Opened/Closed On: March 17, 2026.
- Deemed Date of Allotment & Pay In Date: March 20, 2026.
- Date of Redemption (Maturity): March 20, 2036.
- Call Option Date: The bonds carry an Issuer Call Date on March 20, 2031 (the 5th anniversary of the Deemed Date of Allotment) or any anniversary date thereafter.
Listing Information
These bonds are Proposed to be listed on BSE Limited and National Stock Exchange of India Limited, providing liquidity for the investors who participated in the bidding.
Source: BSE
