Mumbai: State Bank of India Raised $600 million through dollar-denominated issuance unsecured note, which is part of the bank’s $10 billion medium-term note program. Bank London branch Issued notes that 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 five-year US Treasuries, resulting in a yield of 5.1%. Although the order book for bond issuance reached $3.5 billion, the bank retained only $600 million, pricing the bonds more precisely than previously indicated by 150bps on US Treasuries.
Investors from Europe, Middle East and Africa participated in this issue.
The bank managed to price the bonds at a yield of 117 basis points (100bps = 1 percentage point) over five-year US Treasuries, resulting in a yield of 5.1%. Although the order book for bond issuance reached $3.5 billion, the bank retained only $600 million, pricing the bonds more precisely than previously indicated by 150bps on US Treasuries.
Investors from Europe, Middle East and Africa participated in this issue.
