The State Bank of India (SBI) on Monday said it will raise over Rs 12,600 crore ($2 billion) by issuing bonds in dollar or other convertible currencies.
“The executive committee of the Central Board… has approved long-term fundraising in single/multiple tranches up to $2 billion,” the state-run bank informed in a regulatory filing to the BSE.
The BSE filing added that raising of funds would be done through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during FY 2017-18 and FY 2018-19.