Photo: Abhijit Bhatlekar/Mint
Photo: Abhijit Bhatlekar/Mint

SBI raises $1.25 billion via bonds

SBI has concluded the standalone issuance of fixed rate senior unsecured notes in two tranches of $ 850 million for 5 years with a coupon of 4.375% and $400 million for 3 years with a coupon of 4 % payable semi-annually

New Delhi: Country’s largest lender State Bank of India (SBI) Thursday said it has raised USD 1.25 billion (about 8,800 crore) through bonds from overseas market to fund its business expansion.

The bank has concluded the standalone issuance of fixed rate senior unsecured notes in two tranches of USD 850 million for 5 years with a coupon of 4.375 per cent and USD 400 million for 3 years with a coupon of 4 per cent payable semi-annually, SBI said in a regulatory filing.

The bonds will be issued through the London branch of the bank and will be listed on Singapore Stock Exchange and lndia lnternational Exchange, GIFT City, it said.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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