Mumbai, Oct 25 (PTI) The country's largest lender, State Bank of India, has raised $750 million (about Rs 3,600 crore) through bonds from the overseas market.
The bank has concluded the issue of $759 million fixed rate senior notes having a maturity of 5 years at a coupon rate of 4.5 per cent under the Medium Term Notes (MTN) programme, State Bank of India said in a statement.
These have been issued through the bank's London branch as of October 23 and these shall be listed on Singapore Stock Exchange, it said.
According to an estimate, SBI could raise Rs 28,000 crore from bonds to meet regulatory capital requirement and to fund business growth during the current fiscal.
"We have enough cushion. Around Rs 28,000 crore headroom is available for raising subordinated bonds as and when required," a senior official had said.