Nabard, SBI Cards may seek up to Rs 5,800 cr via bond issues

Mumbai: The National Bank for Agricultural and Rural Development (Nabard) is likely to issue three-year bonds worth up to ₹5,000 crore this week. Nabard's bond sale is likely to include a base size of ₹2,000 crore and a greenshoe option of ₹3,000 crore, sources aware of the development said. The maturity of the bonds is likely on August 31, 2026.

Separately, SBI Cards and Payment Services is likely to conclude sales of five-year bonds worth around ₹800 crore next week. The bonds, rated AAA by CRISIL and ICRA, may bear a rate of interest of 7.85%, sources said.

On April 21, Nabard issued securities worth ₹4,922 crore maturing in July 2026. The coupon for Nabard bonds was set at 7.56%.


Nabard bonds are often considered as pricing reference points in the corporate debt market.

On Tuesday, the most liquid three-year central government security ended trading at 6.96% yield. Sovereign bond yields are the benchmarks used by other entities to determine borrowing costs.