New Delhi: The board of the country’s biggest lender State Bank of India (SBI) on Tuesday said it proposes to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations.
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The board of the bank on Tuesday approved the proposal to raise fund in “single or multiple tranches up to USD 2 billion …Through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2023-24,” SBI said in a regulatory filing.
Last month, SBI raised Rs 3,717 crore by issuing a Tier 1 bond at a coupon rate of 8.25 per cent.
Shares of SBI settled 0.33 per cent up at Rs 545.80 apiece on the BSE.
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