AT1 papers come with a five-year call option. Accordingly, the difference with the five-year government bonds came around 59 basis points annualised. The matrix was as much as 159 basis points last time in December, 2021 when SBI had sold perpetual papers yielding 7.55%.
Big Movers on D-Street: What should investors do with Prince Pipes, M&M and ONGC
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May 30, 2023