State Bank of India raises $750 million through bonds

Country's biggest lender State Bank of India has raised USD 750 million through bonds to fund offshore business growth.

In a regulatory filing on Thursday, SBI stated that it has concluded the issue of USD 750 Mio Senior Unsecured Fixed Rate Notes having maturity of 5 years and coupon of 4.875% percent payable semi-annually under Regulation-S. 

Further, “the Bonds will be issued through our London branch as of 05th May 2023 and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City”, the Bank said.

On Friday, shares of SBI were trading higher by 1% at Rs570.70 per share on the BSE.

Source: Media reports