State Bank of India plans to raise up to $1.5 billion via overseas bonds in FY21

by mehekkaoberoi
  • State Bank of India plans to raise long-term funds — up to $1.5 billion — through bonds from international markets in FY21.
  • The executive committee of the central board will meet on June 11 to examine the status and decide on fundraising plans.
  • SBI may raise money through a public offer and/or private placement of senior unsecured notes in dollars or any other convertible currency, during FY21.
  • Bankers associated with international fundraising said that lenders, including SBI, raise money from global markets on a regular basis.
  •  The proceeds are used for lending and repayment of financial instruments maturing that year.
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