State Bank of India has successfully raised $300 million by issuing three-year senior unsecured floating-rate bonds in overseas markets. This move comes after the Reserve Bank of India introduced measures to reduce the cost of foreign-currency borrowings, offering a concessional forex swap facility. The issuance, managed through SBI's London branch, features a coupon tied to the Secured Overnight Financing Rate plus 100 basis points.
State Bank of India successfully raised $300 million by issuing three-year senior unsecured floating-rate bonds in overseas markets. This strategic move utilizes the Reserve Bank of India's new concessional forex swap facility designed to lower foreign-currency borrowing costs…
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