SBI board approves raising $3 billion through FX bonds
State Bank of India's (SBI) board of directors have approved raising upto $3 billion through foreign currency bonds issued abroad, the bank said in a stock market filing.
's () of directors have approved raising upto $3 billion through bonds issued abroad, the bank said in a stock market filing.The fund raise could be in single or multiple tranches of up to $3 billion through a public offer or private placement of senior unsecured notes in or any other major foreign currency during the current fiscal year ending March 2025, the bank said.
India's largest lender by assets is a regular in the overseas bond market as it raises resources to fund its loan book abroad. Earlier this year in January, the bank raised $600 million through five-year US dollar-denominated bonds at a coupon rate of 5.1% from its London branch. The five year bond issue followed the $250 million the lender raised by issuing green bonds in the last week of December 2023.
Source: Stocks-Markets-Economic Times
