Mumbai: The largest public sector lender State Bank of India (SBI) on Tuesday said that it would issue foreign currency bonds to raise Rs6,270 crore.
“SBI has...concluded a standalone issuance of Malaysian Ringgit (MYR) 500 Mio Fixed Rate Bonds for a tenure of five years at a coupon of 4.90%,” the bank said in a filing to the Bombay Stock Exchange.
The bonds would be issued on 31 March, it said. The amount raised would help SBI to augment its capital and increase its lending activities.
The bonds, to be issued for a period of five years, will carry a coupon rate of 4.9%, the filing added.
Shares of SBI closed at Rs1,740.20, up 5.75% on the BSE.