SBI to Raise $1.25 Bn by Issuing Foreign Currency Bonds

Country's largest lender SBI said it plans to raise up to USD 1.25 billion (around Rs 9,069 crore) by issuing bonds through various modes.

Bank's executive committee of central board meeting is scheduled to take place on Thursday to consider the proposal, SBI said in a regulatory filing.

The meeting will "examine the status and decide on long term fund raising in single/multiple tranches up to USD 1.25 billion through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency," SBI said.

The public sector lender said, the fund is planned to be raised during January to March, next year.

Shares of SBI closed 0.73 per cent lower at Rs 273.40 apiece on the BSE.