Sbi Loans And Syndication Bookings At $2.5 Billion

The State Bank of India has leveraged its underwriting strength as well as its close relationship with most of the top Indian corporates to record an impressive growth in foreign currency loans.

The bank ended the fiscal by booking new business of over $2.5 billion in syndications and stand-alone loans. SBI has to its credit 20 lead syndications tota-lling $1.4 billion, and 40 disbursements on stand-alone loans aggregating $225 million. It has also arranged for short term trade finance exceeding about $500 million.Some of the corporates on whose behalf the syndications were done are, L&T Ltd -- $150 million, Indo Gulf Fertilisers -- $60 million, Tisco -- $50 million, ACC -- $55 million, KRCL -- $70 million, IOC -- $325 million.

 

Even in the FCNR (B) category of loans, the bank has disbursements amounting to $700 million which has been accessed by all major corporates.

During the first quarter of the 1997-98 fiscal, the bank has extended 48 indicative quotes for amounts aggregating about $753 million to various corporates spread over almost all the circles and amounts ranging from $0.46 million for Composite Tools Ltd, Patna to $100 million to CTIL, Mumbai. Of this, deals aggregating about $400 million have already been booked.

The major among these being Wellspun Syntex Ltd -- $11 million, Zee Telefilms -- $12.6 million, Arivind Polycot Ltd -- $15 million, Sun Pharma --$15 million, Wockhart Ltd -- $15 million, Ipca Labs -- $10 million.