SBI to raise Rs 17k cr via bonds in tranches in FY19

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.

--IANS

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