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MUMBAI: SBI has raised $600 million by issuing dollar-denominated unsecured notes, which form a part of the bank’s $10-billion medium-term note programme. The bank’s London branch issued the notes, which were rated BBB- by S&P.
The bank managed to price the bonds at a yield of 117 basis points (100bps = 1 percentage point) over the five-year US Treasury, resulting in a yield of 5.1%.Although the bond issues order book reached $3.5 billion, the bank retained only $600 million, pricing the bonds more finely than the earlier indication of 150bps over the US Treasury.
The issue saw participation by investors from Europe, the Middle East, and Africa.
The bank managed to price the bonds at a yield of 117 basis points (100bps = 1 percentage point) over the five-year US Treasury, resulting in a yield of 5.1%.Although the bond issues order book reached $3.5 billion, the bank retained only $600 million, pricing the bonds more finely than the earlier indication of 150bps over the US Treasury.
The issue saw participation by investors from Europe, the Middle East, and Africa.
#SBI #raises #million #dollar #bonds
