SBI to raise up to $2 billion via overseas bonds
New Delhi: Country’s largest lender State Bank of India (SBI) plans to raise up to $2 billion (over Rs12,600 crore) by issuing bonds in US dollar or other convertible currency.
“The executive committee of the Central Board.. has approved long term fund-raising in single/multiple tranches up to USD 2 billion,” SBI said in a regulatory filing.
It said the fund-raising will take place through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during fiscal 2017-18 and 2018-19.
Shares of SBI were trading 0.44% higher at Rs307.55 on BSE.