SBI to raise $1.5 billion through bonds

India’s largest public bank State Bank Of India (SBI) on Thursday said, “Its board has approved the plan to raise to $1.5 billion through the issuance of bonds.”

In a filing with the exchange, SBI said, “Executive committee of the Central Board in its meeting herd today on 11th June 2020 inter alia approved the following -to examine the status and decide on long term fundraising in single/multiple tranches up to US$ 1.5 billion.”

“The capital is proposed to be raised under Reg-S/144A through a public or private placement of senior unsecured notes in US Dollar or ant other convertible currency during FY 2020-21,” the filing added.