SBI raises $750 million term loan 
News Updates

SBI raises $750 million term loan

The State Bank of India (SBI) has raised USD 750 million term loan from its GIFT City branch, its lead arranger said on Tuesday

PTI

New Delhi: Country's largest lender State Bank of India (SBI) has raised USD 750 million term loan from its GIFT City branch, its lead arranger said on Tuesday.

The USD 750 million Senior Unsecured Syndicated term loan facility was signed on July 11, as per a statement from Mashreq, which acted as the sole global coordinator for the facility.

PSU Watch is now on Whatsapp Channels. Click here to join

SBI initially set out to raise USD 350 million in May 2024, but the amount was upsized to USD 750 million.

The facility will be used for general corporate funding purposes of SBI, the statement said.

The term loan facility saw participation from 11 institutions and was 2.2 times oversubscribed resulting in an upsized deal, the statement said, adding that interests were shown by institutions and investors from Middle East, South Asia, Africa, Germany and South Korea.

"We consider it our privilege to be mandated solely on a syndicated deal for a premier financial institution like State Bank of India," Joel Van Dusen, Group Head of Corporate and Investment Banking, Mashreq, said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

Rozgar Mela: DVC issued appointment letters to youth nationwide

PM inaugurates, lays foundation stones for projects worth Rs 284 crore at Statue of Unity

Punjab Govt hikes 4% DA for employees, pensioners

2 Adani companies sign pacts with MSEDCL to supply 6,500 MW power

IWAI commences dredging work in Neamati-Kamalabari channel