SBI Markets Perpetual Securities In Mid-5 Per Cent Area

State Bank of India (SBI) has provided yield guidance of mid-5 percent area for a benchmark offering of US dollar Additional Tier 1 notes (the first offshore AT1 issue from India). The perpetual non-call 5 notes are estimated to be rated B1/B+ (Moody's/S&P). They will be written down temporarily if the State Bank of India’s common equity Tier 1 ratio dips below 5.5 percent up until 31^st March, 2019, and below 6.125 per cent thereafter. The notes shall be written down permanently if the RBI - Reserve Bank of India deems that the bank would become unfeasible without the writedown or an introduction of public funds.

Bank of America Merrill Lynch, HSBC, Citigroup, National Bank of Abu Dhabi, JP Morgan, Standard Chartered and SBI Capital Markets are joint bookrunners for the Reg S only deal, which shall price as early as today.

SBI share price history:

Meanwhile, SBI share price was trading 0.97 percent higher at Rs.255.20 on NSE today. The stock opened at Rs. 255.00 from a previous closing of Rs.252.75. At 13:18 pm, the day’s high of the stock stood at Rs.257.40 while the day’s low read at Rs. 253.00. The total traded volume stands at 77,37,807 shares with a traded value of Rs.19,774.74 lac.

The market cap of SBI amounts to Rs.196204.19 (Cr) while the book value stands at 230.87. The P/E Ratio of the stock is recorded to be 22.92. The stock has an ADM or Average Daily Movement of 6.07. Its average volume of 20 days stands at 21598477 shares.