Latest News | SBI Board Okays Raising of USD 2 Billion from Bonds in FY24
Get latest articles and stories on Latest News at LatestLY. The board of the country's biggest lender State Bank of India (SBI) on Tuesday said it proposes to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations.
New Delhi, Apr 18 (PTI) The board of the country's biggest lender State Bank of India (SBI) on Tuesday said it proposes to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations.
The board of the bank on Tuesday approved the proposal to raise fund in "single or multiple tranches up to USD 2 billion ...through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2023-24," SBI said in a regulatory filing.
Last month, SBI raised Rs 3,717 crore by issuing a Tier 1 bond at a coupon rate of 8.25 per cent.
Shares of SBI settled 0.33 per cent up at Rs 545.80 apiece on the BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)