{"id":169362,"date":"2023-01-10T06:37:14","date_gmt":"2023-01-10T06:37:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169362"},"modified":"2023-01-10T06:37:14","modified_gmt":"2023-01-10T06:37:14","slug":"sbis-rs-10000-crore-infrastructure-bond-sale-likely-this-week","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/sbis-rs-10000-crore-infrastructure-bond-sale-likely-this-week\/","title":{"rendered":"SBI’s Rs 10,000-crore infrastructure bond sale likely this week"},"content":{"rendered":"

State Bank of India (SBI) may carry out a planned Rs 10,000 crore sale of infrastructure bonds in the market this week, with the securities likely to be of 15-year maturity, sources told Business Standard<\/em>.<\/p>\n

<\/p>\n

SBI, the country’s largest bank, had last week said its board had approved the issuance of infrastructure bonds in the current fiscal year.<\/p>\n

It, however, had not mentioned the maturity of the bonds or when the sale would take place.<\/p>\n

“They are trying for a 15-year bond and it will be more or less finalised soon whether it will be 15-year or not.<\/p>\n

“They will possibly be doing it this week if they get the approval,” a source said.<\/p>\n

“SBI’s last bond is quoting at around 7.53-7.57 per cent.<\/p>\n

“The infra bond could be around 7.60 per cent levels. If they get an okay for a 15-year tenure, they could map it on the EBP (electronic debt bidding platform) by this week itself,” the source said.<\/p>\n

A 14-year government bond was last auctioned in the primary market at 7.43 per cent yield.<\/p>\n

The 10-year benchmark government bond settled at 7.34 per cent on Monday.<\/p>\n

Infrastructure bonds are securities that are exempt from computation of net demand and time liabilities (NDTL) — a proxy for deposits. Hence, they are not subject to cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements.<\/p>\n

Infrastructure projects aside, the money can also be used for loans to affordable housing ventures.<\/p>\n

SBI’s infrastructure loans book grew by 10.81 per cent year-on-year (YoY) to Rs 3.67 trillion as of September 2022.<\/p>\n

Of this, exposure to the power sector was Rs 1.95 trillion and that to roads was Rs 95,614 crore.<\/p>\n

Last month, private sector lender ICICI Bank had raised Rs 5,000 crore through infrastructure bonds for funding projects in segments like power and roads, etc.<\/p>\n

The coupon — or the rate which the bank pays to investors — for ICICI Bank’s bonds was set at 7.63 per cent.<\/p>\n

The private bank’s bonds were of seven-year maturity.<\/p>\n

State-owned lender Bank of Baroda had also recently sold infrastructure bonds.<\/p>\n

Over the past few months, banks have embarked on a slew of debt issuances in order to raise capital as deposit growth has continued to lag credit growth significantly.<\/p>\n

This has exerted pressure on banks to mobilise funds in order to fund the loan growth.<\/p>\n

The RBI data as on December 16 showed bank credit growth was at 17.4 per cent YoY. Deposit growth was at 9.4 per cent over the same period.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

State Bank of India (SBI) may carry<\/p>\n","protected":false},"author":3,"featured_media":169361,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nSBI's Rs 10,000-crore infrastructure bond sale likely this week - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/sbis-rs-10000-crore-infrastructure-bond-sale-likely-this-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBI's Rs 10,000-crore infrastructure bond sale likely this week - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"State Bank of India (SBI) may carry\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/sbis-rs-10000-crore-infrastructure-bond-sale-likely-this-week\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T06:37:14+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/01\/SBIs-Rs-10000-crore-infrastructure-bond-sale-likely-this-week.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/sbis-rs-10000-crore-infrastructure-bond-sale-likely-this-week\/\",\"url\":\"https:\/\/precoinnews.com\/business\/sbis-rs-10000-crore-infrastructure-bond-sale-likely-this-week\/\",\"name\":\"SBI's Rs 10,000-crore infrastructure bond sale likely this week - 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