State Bank of India raises $500 million via bonds in overseas market; issue attracts $2.46 billion orders
The 'Regulation S' bond is benchmarked against the 5-year US Treasury and priced at a spread of 88 bps over the benchmark, SBI said in a statement on Thursday.
State Bank of India (SBI) successfully raised $500 million by issuing bonds in the overseas market, with a peak order book of $2.46 billion from 145 investors. The Regulation S bond, which is benchmarked against the 5-year US Treasury and priced at a 88 basis points spread over the benchmark, received strong interest from global fixed income investors.
The issuance, which priced at the tightest spread among all Indian public bond issuances since the RBI swap window announcement, demonstrates the confidence of global investors in India's growth story and credit quality of SBI.
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