State Bank of India Lists USD 500 Million Bonds on NSE-IX

State Bank of India announces the listing of its USD 500 million of “Regulation S” bonds, recently issued at a coupon rate of 4.50 per cent at NSE-IX in Gift City. The bond is priced at a spread of 75 bps over the benchmark and is listing on SGX-ST and NSE-IX. The Notes carry rating of BBB and BBB- from S&P and Fitch respectively.

Commenting on the transaction, Shri Rama Mohan Rao Amara, Managing Director (IB, GM & T), SBI, said “The successful issuance of USD 500 million is a testament to the strong appetite for bonds of SBI and reflects the confidence of the global investors in India’s growth story in general and credit quality of the Bank in particular. The listing at NSE-IX enhances market visibility while reinforcing SBI’s commitment to support the vision of strengthening the GIFT City ecosystem as an evolving international financial hub” 

Citigroup, HSBC, J.P. Morgan, MUFG, SMBC Nikko and Standard Chartered Bank were the Joint Bookrunners for this offering.