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State Bank Of India
BSE: 500112 | NSE: SBIN
Large Cap | Bank - Public
1029.40
-18.85 (-1.80%) SBI raises $1.25 billion through issue of overseas bond
Date: 15-04-2014State Bank of India (SBI) has raised $1.25 billion in a dual tranche overseas bond sale, making it the largest investment grade US dollar-denominated bond transaction out of India since August 2012. This is also the largest dual-tranche offering by a state-owned bank from India.
Recently, the state run lender raised $750 million through five-year bonds and $500 million through 10-year bonds.
The total order book of the offering was in excess of $5.9 billion and was oversubscribed 4.72 times with demand from 520 investors, underscoring SBI’s strong credit profile and its position as India’s largest bank.