State Bank of India (SBI) successfully raised Rs 10,000 crore through its fifth infrastructure bond issuance on Wednesday. The country’s largest lender secured the funds at a coupon rate of 7.36 per cent. The response from investors was overwhelming, with bids in excess of Rs 19,884 crore, leading to an oversubscription by around four times against the base issue size of Rs 5,000 crore, SBI reported in a regulatory filing. A total of 143 bids were received, indicating diverse participation from entities such as provident funds, pension funds, insurance companies, mutual funds, and corporates. The proceeds from the bonds will be used to enhance long-term resources for funding infrastructure and affordable housing segments. Based on the strong response, the bank has decided to accept Rs 10,000 crore at a coupon rate of 7.36 per cent, payable annually. This represents a spread of 21 basis points over the corresponding FBIL G-Sec par curve. With this issuance, the total outstanding long-term bonds issued by the Bank now stands at Rs 49,718 crore. SBI Chairman, Dinesh Khara, mentioned that this issuance will help in developing a long-term bond curve and encourage other banks to issue bonds of longer tenor.