SBI to raise over Rs 12K cr via overseas bonds

SBI

Mumbai, Jan 8: Largest Public lender State Bank of India (SBI) on Monday said it will raise more than Rs 12,600 crore ($2 billion) by issuing bonds in dollar or other convertible currencies.

“The executive committee of the Central Board… has approved long term fund raising in single/multiple tranches up to $2 billion,” the state-run bank informed in a regulatory filing to the BSE, news agency IANS reported.

The BSE filing added that raising of funds would be done via a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during FY 2017-18 and FY 2018-19.

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