MUMBAI- State Bank of India (SBI), the country's largest lender, has accepted bids worth 100 billion rupees ($1.20 billion) for infrastructure bonds maturing in 15 years, three merchant bankers said on Wednesday.

The state-run bank will pay a coupon of 7.36% on the bonds. It had invited coupon and commitment bids from bankers and investors earlier in the day.

This is the lender's first bond issuance this financial year as well as the first infrastructure bond sale by any Indian company this fiscal year.

In January, SBI had raised 50 billion rupees through perpetual bonds at an 8.34% coupon. Last financial year, it had raised 200 billion rupees through the sale of two tranches of 15-year infrastructure bonds at coupon rates of 7.54% and 7.49%.

Here is the list of deals reported so far on June 26:

Issuer Tenure Coupon (in %) Issue size (in Bidding Rating bln rupees)

* date SBI 15 years 7.36 100 June 26 AAA (India Ratings, Icra)

*Size includes base plus greenshoe for some issues

($1 = 83.5325 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Mrigank Dhaniwala)