SBI concludes issue of $300 mln senior unsecured fixed rate notes

State Bank of India (SBI) concluded the issue of $300 million senior unsecured fixed rate notes having maturity of five years and a coupon rate of 2.49% payable semi-annually.

The bonds will be issued through its London branch as of 26 January 2022 and shall be listed on Taipei Exchange (TPEx), Singapore Stock Exchange and lndia lnternational Exchange, GIFT City (Gujarat).

The Executive Committee of the Central Board of State Bank of India (SBI) on 28 April 2021 examined the status to decide on long-term fund raising in single / multiple tranches up to $2 billion, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2021-22.

The public sector bank posted a 66.7% rise in standalone net profit to Rs 7,626.57 crore on a 3.1% increase in total income to Rs 77,689 crore in Q2 FY22 over Q2 FY21.

The scrip rose 0.19% to currently trade at Rs 511.10 on the BSE. State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. As of 30 September 2021, the Government of India held 57.62% stake in the bank.

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