SBI to raise $500-600mn in offshore borrowing

State Bank of India plans to raise USD 500-$600 million worth of offshore external commercial borrowings in three to four months time, a senior executive said on Tuesday.

April 16, 2013 / 17:22 IST

State Bank of Indiaplans to raise USD 500-600 million worth of offshore external commercial borrowings in three to four months time, a senior executive said on Tuesday.

India's largest lender priced a five-year, USD 1 billion bond issue with a coupon of 3.25 percent last week, generating interest of more than four times the bond size, said Hemant Contractor, managing director of international business.

first published: Apr 16, 2013 03:48 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347