SBI Raises $750 Mn Through Bonds To Fund Offshore Business Growth

State Bank of India (SBI) on Thursday said it has raised USD 750 million through bonds to fund offshore business growth.

The country's biggest lender has concluded the issue of USD 750 million senior unsecured fixed rate notes having maturity of 5 years and coupon of 4.875 per cent payable semiannually under Regulation-S, SBI said in a filing.

"The bonds will be issued through our London branch as of May 5, 2023 and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City," it said.

Earlier this month, the bank's board had approved a proposal to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations.

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