SBI To Raise Up To Rs 12,600 Crore Via Overseas Bonds

SBI said the fundraising will take place through a publicoffer and/or private placement of senior unsecured notes in USDollar or any other convertible currency.

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SBI To Raise Up To Rs 12,600 Crore Via Overseas Bonds

SBI plans to raise up to $2 billion through bonds in US dollar or any other convertible currency


New Delhi: State Bank of India (SBI), the country's largest lender, plans to raise up to $2 billion (over Rs 12,600 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 $2 billion," SBI said in a regulatory filing.

It said the fundraising 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 years 2017-18 and 2018-19.

At 2:31 pm, shares in SBI were trading 0.40 per cent lower at Rs 305.10 apiece on the NSE, whose benchmark Nifty index was trading 0.45 per cent at 10,607.25.


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