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SBI raises $600 million from bonds to fund expansion of overseas business

Country’s largest lender, the State Bank of India (SBI) on Thursday said it has concluded the issuance of $600 million…

SNS | New Delhi | January 7, 2021 2:35 pm

SBI raises $600 million from bonds to fund expansion of overseas business

The fund raised through senior unsecured fixed rate notes having maturity of 5.50 years. (Photo: IANS)

Country’s largest lender, the State Bank of India (SBI) on Thursday said it has concluded the issuance of $600 million (about Rs 4,500 crore) from bonds in order to fund an expansion of overseas business.

The fund raised through senior unsecured fixed rate notes having maturity of 5.50 years, SBI said.

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In a regulatory filing, the lender said, “the State Bank of India has concluded the issue of USD 600 Mio Senior Unsecured Fixed Rate Notes having maturity of 5’50 years and coupon of 1.80 per cent payable semi-annually under Regulation-S.”

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“The bonds will be issued through our London branch as of January 13, 2021, and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City,” it added.

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