MoneyWorks4Me

SBI gets approval to raise $1.25 billion on private placement basis

12 Dec 2018 Evaluate

State Bank of India (SBI) has received approval to raise long term fund in single/multiple tranches up to $1.25 billion through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during January to March 2019. The Executive Committee of the Central Board at its meeting held on December 12, 2018 has approved the same.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.

Peers
Company Name CMP
State Bank Of India 940.65
PNB 115.50
Bank Of Baroda 234.10
Canara Bank 117.20
Union Bank Of India 172.95
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