SBI To Raise Funds For Housing & Infra

Written By: Archana
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    State Bank of India announced that its board had approved to raise INR 20000 crore through long-term bonds for affordable housing and infrastructure projects as reported by PTI.

    SBI To Raise Funds For Housing & Infra

    The bank did not mention whether the borrowing will be in rupee denomination or foreign currency.

    SBI had recently announced plans to raise up to USD 2 billion by the issue of bonds in US dollar or through other convertible currency to fund its overseas expansion.

    It said that it would raise funds through a public offer or private placement of senior unsecured notes in US dollar or any other convertible currency during 2017-2017 and 2018-2019.

    The affordable housing segment is showing a good response after the government provided infrastructure to it in the last year's budget.

    Read more about: sbi housing long term bonds
    Story first published: Thursday, January 18, 2018, 11:37 [IST]
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