State Bank of India, acting through its London branch, has raised USD 500 million by issuing bonds at a coupon rate of 5.25 per cent. The 'Regulation S' bond is benchmarked against the 5-year US Treasury and priced at a spread of 88 bps over the benchmark, SBI said in a statement on Thursday. 'Regulation S' tagged instruments are exempt from registration requirements of the US Securities and Exchange Commission (SEC) and can be issued outside the United States. The bonds will be listed on SGX-ST, India INX and NSE-IX, it said. The transaction received an overwhelming response and saw strong interest from investors across geographies, with a peak order book of USD 2.46 billion with 145 investors. SBI Chairman CS Setty said, "The successful pricing of USD 500 million, during the ongoing global uncertainties, is a testament to the strong appetite for bonds of SBI and to the diversified investor base the Bank has in offshore capital markets, allowing it to efficiently raise funds from
Sector seeks tax concessions and government-backed protection against geopolitical risks abroad
The concerns around India remain the same. Valuations are too high. There is no economic & earnings momentum. We have no artificial intelligence (AI) play or beneficiary
The changes would include fewer and standardised documentation and less scrutiny on investors that are already regulated in other countries
Tamil Nadu signed Rs 24,307 crore investment deals at Hosur, generating over 49,000 jobs, with major projects in solar, defence, aerospace, footwear and electronics manufacturing
For investors, buying into India's debt presents a chance to tap into one of the world's fastest-growing economies, earn higher yields, and diversify away from China
Weak earnings also weigh on sentiment; Sensex, Nifty down 7% from peak
The President also highlighted India-assisted development projects in Mauritius and said that these projects are a testament to India's support to Mauritius
Indian sovereign bonds have gained prominence after JPMorgan Chase & Co.'s move to add them to its global debt indexes from June
BofA said its Bull & Bear indicator of investor sentiment was at 1.4, the lowest since November 2022
'Chasing sectors which have reported strongest earnings not the right strategy always,' he says
Accounted for a larger share in the years leading up to Covid-19
Sebi's proposed mandate will negatively impact FIs' global operation, ASIFMA argues
India has consistently attracted annual foreign direct investments of $50 billion to $55 billion, even in the pandemic, Sengupta said
In a Q&A, she says the interest differential with US does not matter so much because India has caps on interest sensitive inflows. Overseas investment is a very low share of the country's debt market
Bond purchases by global funds under the so-called Fully Accessible Route jumped to 42 billion rupees ($529 million) in August, the most since January
Getting high-yielding Indian sovereign bonds into global indexes would make it easier for overseas investors to put their money into Asia's third-biggest economy with its $1 trillion debt market
The crucial issue is what should be the interest rate to attract overseas investors, mainly Indians to take part in it
According to data from depositories, overseas investors invested Rs 4,385 crore into equities and Rs 3,220 crore in the debt segment during September 1-9
The company plans to retire old loans