SBI plans to raise $1.5 bn from overseas bond

SBI plans to raise $1.5 bn from overseas bond

24/06/2016 11:47

Public-sector lender, State Bank of India said that it plans to raise USD 1.5 billion (about Rs 10,000 crore) from overseas markets via bonds during the current fiscal to fund its expansion.

The bank’s board is meeting on June 29 to take a decision in this regard, SBI said in a filing to BSE.

The board would examine the status and decide on long-term fund raising in single or multiple tranches of up to USD 1,500 million through a public offer or private placement of senior unsecured notes in US dollar or any other convertible currency during 2016-17, it said.

Meanwhile, shares of the Bank were trading at Rs 205.65 apiece, down 5.45 per cent from the previous close at 11:48 hours on BSE.

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