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“The bonds are benchmarked against 5-year US treasury and priced at a spread of 145 bp over the benchmark. The bonds were issued under SBI’s MTN Programme and will be listed on Singapore SGX and the India INX, Gift City,” it said.
The bank said acting through its London Branch, priced a 5-year $750 million bond issuance at a coupon rate of 4.875 percent.
“The bonds are benchmarked against 5-year US treasury and priced at a spread of 145 bp over the benchmark. The bonds were issued under SBI’s MTN Programme and will be listed on Singapore SGX and the India INX, Gift City,” it said.
The issuance received an overwhelming response and saw strong interest from investors across geographies with a final order book in excess of $2.9 billion across 181 accounts, the lender noted.
Dinesh Khara, chairman of SBI said the successful issue highlights SBI’s strong investor base in offshore capital markets, which enables it to effectively raise funds from the world’s leading fixed-income investors, especially during moments of increased volatility and uncertainty.
Citigroup, Emirates NBD Capital, HSBC, JP Morgan, MUFG, and Standard Chartered Bank acted as joint global coordinators and joint lead managers for this offering.
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