HomeFinance NewsSBI to raise Rs 17,000 crore via bonds in tranches in FY19

SBI to raise Rs 17,000 crore via bonds in tranches in FY19

In January, the SBI had raised $1.25 billion through bonds from the overseas market.

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By IANS  April 25, 2019, 7:01:08 AM IST (Published)

SBI to raise Rs 17,000 crore via bonds in tranches in FY19
The board of the State Bank of India

has approved raising up to $2.5 billion (around Rs 17,000 crore) through bonds in the current fiscal.

The bank said its board has approved "long term fund raising in single/multiple tranches up to $2.5 billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during FY 2019-20".

In January, the SBI had raised $1.25 billion through bonds from the overseas market. The bank had said it had concluded the standalone issuance of fixed rate senior unsecured notes in two tranches of $850 million for five years with a coupon of 4.375 percent and $400 million for three years with a coupon of 4 percent payable semi-annually.
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