SBI raises $200 million via London branch tapping July 2029 bond

Business Jul 14, 2026

SBI has pulled in $200 million by tapping into an existing bond set to mature in July 2029, using its London branch.

The bonds come with a coupon rate slightly above the standard SOFR, and will be listed on Gift City's exchange starting July 17.

SBI is capitalizing on the Reserve Bank of India's recent measures to lower the cost of foreign-currency borrowings.

SBI raised $300 million through 3-year bond

This isn't a one-off: just last month, SBI raised another $300 million through a three-year floating-rate bond, also via its London branch.

Both moves show the bank is taking advantage of the Reserve Bank of India's new rules to cut costs and boost overseas funding, pretty smart for India's biggest bank.