SBI raises $300 mn via Formosa bonds
The bond is benchmarked against the 5-year US treasury and priced at a spread of 100 basis points over the benchmark

The Supreme Court on Monday had ordered the SBI to disclose the details of electoral bonds to the election commission by Tuesday evening.
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.
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