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Bond market: SBI raises $600 million over 5 years

11/01/2024
Source : ORISHAS FINANCE
Categories: Index/Markets

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Thanks to the issuance of a five-year bond denominated in US dollars at a nominal rate of 5.1%, the State Bank of India (SBI) raised $600 million last Wednesday.

The bond sale, led by the London branch of SBI, drew a strong reaction from global investors who made offers worth $3.5 billion. According to the information, the bond issue was valued at a deviation of 150 basis points from the five-year US Treasury yield. SBI is exploiting the dollar bond market for the second time in less than a month. It raised $250 million through the issuance of green bonds in the last week of December.

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