SBI raises $300-M via 3-yr overseas bonds

Mumbai-headquartered State Bank of India (SBI) has raised USD 300 million through the issuance of three-year senior unsecured floating-rate notes via its London branch.The bonds were issued under Regulation S with a coupon rate of the secured overnight financing rate plus 100 basis points, payable on a quarterly basis. The bank intends to use the capital to support business growth and strengthen its capital base.This capital raise represents an initial utilisation of a board-approved plan to raise up to USD 2-B through overseas bond issuances in fiscal year 2027 to diversify the firm's funding base and expand access to global investors.