SBI To Consider Raising Up To $1.5 Billion

On Thursday, the State Bank of India (SBI) said that its board will be meeting on 11 June to consider raising funds through single or more tranches of up to $1.5 billion.

"To examine the status and decide on long term fund raising in single / multiple tranches up to US$ 1.5 Billion (US$ One and a Half Billion) under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2020-21," the public sector lender said in a stock exchange filing.

Shares of SBI closed 0.23 percent lower to Rs 174.50 apiece.