New Delhi, April 24 (IANS) The board of 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 per cent and $400 million for three years with a coupon of 4 per cent payable semi-annually.
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz