SBI raises USD 750 million via bonds

SBI has raised USD 750 million through bonds to fund offshore business growth
SBI
SBI

New Delhi: State Bank of India (SBI) on Thursday said that it has raised USD 750 million through bonds to fund offshore business growth. The bank has concluded the issue of USD 750 million senior unsecured fixed rate notes having a maturity of 5 years and coupon of 4.875 percent payable semiannually under Regulation-S, SBI said in a filing.

"The bonds will be issued through our London branch as of May 5 and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City," it said. Earlier this month, the bank's board had approved a proposal to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations.

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