SBI, Bank of Baroda may look to raise Rs 8,000 cr through bond sale

While SBI may opt for Rs 4,000-crore tier-II bond sale, Bank of Baroda looks to issue AT-1 bonds worth Rs 3,000-4000 crore in tranches

Country’s largest lender State Bank of India may look to raise funds worth Rs 4,000 crore through issuance of tier-II bonds once it completes its planned sale of Rs 7,000 crore worth of additional tier-I (AT-1) bonds at the end of this month, sources said.

Another state-owned lender, Bank of Baroda, is also likely to issue AT-1 bonds, either at the end of August or in September, the sources said.

Bank of Baroda is looking to sell such bonds worth a total of Rs 3,000-4000 crore through multiple tranches.

Last month, SBI’s board had approved fundraising of up to