SBI raises $750 million through bonds

28 Apr 2023 , 06:14 AM

The State Bank of India (SBI) has announced that it has raised $750 million through bonds to support the expansion of its offshore business.

According to a filing by SBI, the largest lender in the nation has finished the issuance of $750 million in senior unsecured fixed rate notes with a maturity of five years and a yield of 4.875% payable semi-annually under Regulation-S.

As of May 5, 2023, ‘the bonds will be issued through our London branch and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City,’ it stated.

The bank’s board had earlier this month authorized a plan to issue $20 billion (about Rs16,000 crore) in bonds to finance its international activities.

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