Public Lender, SBI to raise USD 2 Billion

New Delhi: India's Largest Public Sector bank, State Bank of India on April 18 announced to raise funds for the Financial year 2024. 

In its regulatory filing, the bank mentioned that the Executive Committee of the Central Board in its meeting decided to raise up to US$2 Billion through foreign Currency bonds.   

The release said, “To examine the status and decide on long-term fundraising in single/multiple tranches up to US$ 2 Billion (US$ Two Billion) under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2023-24.”

In FY23 the bank has raised Rs 3,717 crore by issuing a Tier 1 bond at a coupon rate of 8.25%, which was SBI's third Tier 1 bond issuance in the FY23.