SBI raises $1.25 bn via bonds from overseas market for biz expansion

SBI has concluded the standalone issuance of fixed rate senior unsecured notes in two tranches of $850 mn for 5 years

Country's largest lender State Bank of India (SBI) on Thursday said it has raised $1.25 billion (about Rs 8,800 crore) through bonds from overseas market to fund its business expansion. 

The bank has concluded the standalone issuance of fixed rate senior unsecured notes in two tranches of $850 million for 5 years with a coupon of 4.375 per cent and $400 million for 3 years with a coupon of 4 per cent payable semi-annually, SBI said in a regulatory filing. 

The bonds will be issued through the London branch of the bank and will be listed on Singapore Stock Exchange and lndia lnternational Exchange, GIFT City, it said.