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  Business   In Other News  14 Jan 2022  SBI raises $300 mn via Formosa bonds

SBI raises $300 mn via Formosa bonds

THE ASIAN AGE.
Published : Jan 14, 2022, 9:13 am IST
Updated : Jan 14, 2022, 9:13 am IST

The bond is benchmarked against the 5-year US treasury and priced at a spread of 100 basis points over the benchmark

The bonds will be listed on Taipei Exchange, Singapore Exchange Securities Trading and India International Exchange IFSC. Formosas are foreign-currency bonds, raised in Taiwan and generally listed on the Taipei exchange. — DC Image
 The bonds will be listed on Taipei Exchange, Singapore Exchange Securities Trading and India International Exchange IFSC. Formosas are foreign-currency bonds, raised in Taiwan and generally listed on the Taipei exchange. — DC Image

Mumbai: The country’s largest lender State Bank of India (SBI) through its London branch raised $300 million of ‘Regulation S’ Formosa bonds at a coupon rate of 2.49 per cent.

The bond is benchmarked against the 5-year US treasury and priced at a spread of 100 basis points over the benchmark.

The bonds will be listed on Taipei Exchange, Singapore Exchange Securities Trading and India International Exchange IFSC. Formosas are foreign-currency bonds, raised in Taiwan and generally listed on the Taipei exchange.

SBI said the transaction received an overwhelming response and saw strong interest from investors across geographies.

Tags: sbi, regulation 's' formosa bonds, taipei exchange, singapore exchange securities trading