SBI raises $100 million through bonds

MUMBAI: State Bank of India (SBI) on Friday said it has concluded the issue of $100 million (about Rs830 crore) from bonds to fund business growth.

The fund raised through senior unsecured floating rate notes having maturity of three years and coupon of secured overnight financing rate +95 bps per annum payable quarterly in arrears under Regulation-S, SBI said in a regulatory filing.

The bonds will be issued through the bank’s London branch as of June 20, 2024, it said.