State Bank of India (SBI) has raised Rs 10,000 crore at a coupon rate of 7.54% through its third infrastructure bond issuance. The bidding was held on Monday. The yield was lower than the 7.7 per cent for infrastructure bonds issued by the bank in January.
The number of bids received was 115, indicating wide participation. The investors were provident funds, pension funds, insurance companies, mutual funds, companies, etc.
What are infra bonds?
Infrastructure bonds are financial instruments that are strategically issued by governments or private companies to secure funds that are solely dedicated to advancing various infrastructure development projects.
