SBI board to mull raising $2 bn via bonds in FY22

The State Bank of India (SBI) on Tuesday said that the Executive Committee of its Central Board will consider raising $2 billion through bonds in the financial year 2021-22.

The committee will meet on Wednesday, April 28, the bank said in a regulatory filing.

It said the Executive Committee will meet “to examine the status and decide on long term fund raising in single/multiple tranches up to US$2 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 2021-22”.

Shares of the bank on Tuesday closed at Rs 352.90, higher by Rs 8.55, or 2.48 per cent, from its previous close.