SBI raises $600 million from bonds

State Bank of lndia (SBI) on Thursday said it has concluded the issuance of USD 600 million (about Rs 4,500 crore) from bonds to fund expansion of overseas business.

The fund raised through senior unsecured fixed rate notes having maturity of 5.50 years and coupon of 1.80 per cent payable semi-annually under Regulation-S, SBI said in a regulatory filing.

“The bonds will be issued through our London branch as of January 13, 2021, and shall be listed on Singapore Stock Exchange and India International Exchange, GIFT City,” it said.

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