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State Bank of India (SBI), the country's largest lender, will raise $300 million by issuing bonds in international markets. The proceeds would be used for general corporate purposes.
The bonds are expected to be rated Baa3 - the lowest rating of investment, carrying moderate risk - by ratings firm Moody's or BBB - the lowest investment grade - by Standard & Poor's. The issuer of the bonds will be the London branch of SBI and the bank plans to list the notes on the SIX Swiss Exchange.
