 "SBI raises $ 500 million through 3- year syndicated loan")
India’s largest lender State Bank of India has raised $500 million through a three-year syndicated loan at very fine pricing. This is the first offshore Secured Overnight Financing Rate-linked loan by SBI through its IFSC Gift City branch.
SBI said strong presence in international markets helped it to get a very fine pricing amid ongoing turbulence in financial markets due to geopolitical tensions and rate hike expectations by the US Federal reserve and other central banks across the globe.
The facility is for $400 million with a green shoe-option of $100 million. However, the lender did not disclose the details
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