SBI leads demand, snaps up 40% of Reliance Industries’ ₹13,000 crore bond issue

State Bank of India , the country's largest lender, led the demand for Reliance Industries' 130-billion-rupee ($1.35 billion) 10-year debt sale completed on Wednesday, according to five sources familiar with the transaction.

The state-run bank is estimated to have bought bonds worth nearly 50 billion rupees, or about 40% of the offering, they said. The bonds were rated "AAA" by rating agencies Crisil and CareEdge, and carried an annual coupon of 7.90%.An AAA rating is the highest credit rating, indicating…