SBI
SBI likely to raise $2 billion via dollar bonds
Mumbai: India's largest sector lender SBI Wednesday said it is holding a meeting on May 10 to discuss raising up to $2 billion via US-dollar-denominated bonds.
The fund will be raised in single or multiple tranches through a public offer and / or private placement basis in the current financial year, SBI said in a filing to domestic bourses.
The announcement comes at a time when central banks across the globe are raising key interest rates to control inflation, which in turn makes borrowing for the corporate sector expensive.
In a surprise move, today, RBI raised repo rate by 40 bps to 4.4 percent. The US Federal Reserve is widely expected to raise interest rates at the end of its two-day policy meeting today.
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