SBI raises $200 million through bond tap in

Mumbai: State Bank of India (SBI) has raised another $200 million by tapping an existing outstanding bond issue due in July 2029, which has an original maturity of 3 years and coupon of 100 basis points above the secured overnight funding rate (SOFR), the bank said.

The bonds will be issued through SBI's London branch on July 17 and will be listed in Gift City.

Late last month SBI had tapped the overseas debt markets after the central bank introduced measures to lower the cost of foreign-currency borrowings, raising $300 million through a three-year senior unsecured floating-rate bond issue.


This latest bond is linked to that issue. Those bonds were also privately placed through the bank's London branch.