Business News | SBI to Raise $2 Billion Long-term Fund in 2022-23
Get latest articles and stories on Business at LatestLY. The country's largest lender State Bank of India on Tuesday said its board has approved a proposal to raise $2 billion long-term fund in the current financial year.
Mumbai (Maharashtra) [India], May 10 (ANI): The country's largest lender State Bank of India on Tuesday said its board has approved a proposal to raise $2 billion long-term fund in the current financial year.
In a regulatory filing to the stock exchanges, SBI said the fund would be raised in a single or multiple tranches.
"To examine the status and decide on long term fund raising in single / multiple tranches up to US$2 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 2022-23," SBI said.
The decision was taken by the Executive Committee of the Central Board of SBI in its meeting held on Tuesday. (ANI)
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