State Bank of India has set a coupon of 8.34% for its planned issuance of Basel III-compliant additional tier-I bonds, three bankers said on Thursday.
The country's largest lender has accepted bids worth 50 billion rupees ($601.31 million) after inviting bids for the perpetual bond issue earlier in the day. The bonds have a call option at the end of the tenth year.
The lender had raised 31.01 billion rupees through perpetual bonds in July at a coupon of 8.10%.
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