SBI raises $200 million through bond tap for global investors
pre-market1 source ↓written by the desknot a recommendation
- by tapping
- $200 million
- above the Secured
- 100 basis points
State Bank of India (SBI) has successfully raised $200 million by tapping an existing bond maturing in July 2029. This move is part of SBI’s strategy to diversify funding sources and enhance its international operations, capitalizing on favorable global debt market conditions. The bond features a floating coupon of 100 basis points above the Secured Overnight Financing Rate (SOFR).
The successful tap underscores investor confidence in SBI’s credit profile and its ability to access overseas capital at competitive rates. This fundraising adds to SBI’s recent overseas borrowing activities, strengthening its financial position in the global market.
Not investment advice. For informational purposes only.