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%.
Global bond yields surge to multi-year highs as inflation, borrowing concerns mount
Government bond yields globally rose to multi-decade highs recently due to sell-offs in sovereign debt. Investors demanded higher returns amid persistent inflation and uncertainty regarding
November 13, 2026