SBI to pay 9.95 pc interest on 15 year bond

However, the institutional buyers would get only 9.45 per cent on bonds of similar maturity, SBI said in a filing to the Bombay Stock Exchange.The lender said the 10-year bonds will pay 9.75 per cent to individuals and 9.3 per cent to institutions.

The bank said it will file prospectus for the first tranche of the bond issue "shortly."
Earlier this month, SBI had filed a draft shelf prospectus with the Securities and Exchange Board of India (Sebi) seeking the regulator's nod for raising Rs 10,000 crore through bonds in one or more tranches.The funds raised from the bonds will constitute SBI's Lower Tier II capital, which include subordinated debt and convertible securities.