New Delhi, Sep 9 || India's largest lender, State Bank of India on Tuesday announced the listing of its recently issued $500 million Regulation S bonds at NSE International Exchange (NSE-IX) at GIFT City.
The bonds were issued at a coupon rate of 4.50 per cent at NSE-IX. The bond that has also been approved for listing on Singapore Exchange Securities Trading Limited (SGX-ST), is priced at a spread of 75 bps over the benchmark, a release from the bank said.
Regulation S bonds have received credit ratings of BBB from S&P and BBB- from Fitch.
“The successful issuance of $500 million is a testament to the strong appetite for bonds of SBI. It reflects the confidence of the global investors in India’s growth story and credit quality of the bank ," said Rama Mohan Rao Amara, Managing Director (IB, GM & T), SBI.
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, he added.