SBI raises $300 million through overseas bond issuance
after close1 source ↓written by the desknot a recommendation
- by issuing three-year
- $300 million
State Bank of India (SBI) has successfully raised $300 million by issuing three-year senior unsecured floating-rate notes via its London branch. This issuance follows the Reserve Bank of India's recent measures to enhance the attractiveness of external commercial borrowings (ECBs). The bonds carry a coupon of SOFR + 100 basis points, payable quarterly.
This move marks SBI as a key player in the overseas debt market, potentially influencing other state-owned lenders to follow suit. 📈
Not investment advice. For informational purposes only.