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SBI raises $1.25 billion via bonds

BusinessToday.In     January 17, 2019

State Bank of India has said that it has raised $1.250 billion via bonds from overseas markets. The proceeds from the bonds will be utilised for business expansion

The bank has concluded the stand alone issuance of fixed rate senior unsecured notes in two tranche of $850 million for 5 years with a coupon rate of 4.375 percent and $400 million for 3 years with a coupon rate of 4.00 percent payable semi-annually, SBI said in a regulatory filing on Thursday.

The bonds will be issued through SBI's London branch on January 24 and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City, the statement further added.

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