SBI raises Rs 9,718 crore in second tranche of infra bonds

State Bank of India (SBI) on Wednesday said it has raised Rs 9,718 crore through its second infrastructure bond issuance at a coupon rate of 7.70 per cent per annum for the 15-year money.

This is the second fund-raising since early December when it had mopped up Rs 10,000 crore via infra bonds.

The fund proceeds will be utilised for enhancing long-term resources for funding infrastructure and affordable housing, the bank said in a statement.

The issue attracted good response from investors with bids of Rs 14,805 crore, indicating an oversubscription of 2.96 times from 118 bidders, SBI said, adding investors were mutual funds, provident and pension funds, and insurers.