SBI gets board nod to raise $1.25 billion via bonds

State Bank of India on Wednesday said its board has given approval to raise $1.25 billion through a public offer or private placement of senior unsecured notes.

“We advise that the Executive Committee of the Central Board in its meeting held today on 12th December 2018 has approved long term fund raising in single/multiple tranches up to$ 1.25 billion through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during January to March 2019," the said in a statement.

The shares of SBI were trading at Rs 283.70, up Rs 2.50 or 0.89 per cent at around 12.35 pm.