InvestorQ : Why is SBI now looking to raise big funds in the dollar bonds market?
swati Bakhda made post

Why is SBI now looking to raise big funds in the dollar bonds market?

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Sam Eswaran answered.
1 week ago
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The central board of the State Bank of India will discuss raising up to $2 billion via issue of bonds in the current fiscal year. The meeting of the central board is scheduled on 28 April and the final decision will be known by evening. The committee of the Central Board will also decide on single tranche issue versus multiple tranche; most like it will be two or more.

The idea here is to raise funds in the US Dollar bond market at relatively competitive rates through the issue of senior unsecured notes denominated in US dollars or possibly in some other hard currency. This is a part and parcel of SBI’s aggressive war chest creation to substantially expand its lending book post-COVID.

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