SBI 5-year bonds rake in half a billion dollars


State Bank of India, the country’s largest bank is all set to embark on a new journey on the international debt market. It recently raised a whopping $500 million through sale of its 5-year bonds. The popularity and trust enjoyed by the bank is evident by the fact that the order was oversubscribed, with the order book reflecting a value of $1.5 billion. This is part of SBI’s ambitious plan to raise $10 billion under the Medium Term Note Programme. The bank has already received investments to the tune of $3.5 billion towards this goal.

With a presence in 37 countries, this move will generate sufficient funds for future operation
With a presence in 37 countries, this move will generate sufficient funds for future operation

About SBI bonds

SBI conducts banking not just in India but is also present in 37 other nations globally. The primary purpose of this bond issue was to generate sufficient funds to ensure smooth operations abroad. To the uninitiated, here are a few details about this bond issue.

  • Term of bond – The bonds are valid for a period of 5 years.
  • Issued by -The SBI has issued these bonds through the London branch of the bank.
  • Interest rate – The bonds will earn a fixed interest of 3.25% per annum. This interest will be paid half-yearly.
  • Rating – Moody’s has rated the bonds Baa3, while S&P and Fitch have given a BBB- rating.
  • Listed on – The bonds will be listed on the Singapore Stock Exchange (SSE).
  • Maturity – These bonds will mature in 2022. (January 24 to be precise).

With over 370 million customers and close to 17,000 branches globally, SBI is a major force to be reckoned with. These bonds provide individuals an excellent opportunity to be a part of SBI’s growth story, paving way for future investments.

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