State Bank of India plans $500m 5-year dollar bond sale
State Bank of India (SBI), the country's biggest bank, is looking to raise at least $500 million by selling five-year dollar bonds.
The final amount depends on how much interest investors show, and the pricing starts at 120 basis points above US Treasuries.
SBI kicked off marketing this week and aims to wrap up the deal by Friday.
SBI held off $1B June sale
SBI is looking to raise at least $500 million by selling five-year dollar bonds. The final amount depends on how much interest investors show, and the pricing starts at 120 basis points above US Treasuries. SBI kicked off marketing this week and aims to wrap up the deal by Friday.
They originally planned a $1 billion bond sale in June, but held off because it got too expensive. For now, SBI hasn't commented on this latest move, but it signals they're adjusting their funding game for current market conditions.