SBI Plans to Raise $2bn via Offshore Bonds
India’s state-owned lender State Bank Of India (SBI) plans to raise $2bn by issuing long-term offshore bonds in the current financial year 2022-23. The bond issuance could be under a single deal or multiple tranches through a public offer or private placement of...
SBI Reports 62% Quarterly Profit Jump
State Bank of India (SBI) reported a 62% jump in its Q3 profits to INR 84bn ($1.1bn), its highest quarterly net profit ever. The bank’s domestic non income margin was at 3.40%, increasing 6bps YoY. Its gross non-performing asset (NPA) ratio declined by 94bp to...
SBI Prints $300mn Formosa at 2.496%; First Ever Formosa by an Indian Issuer
State Bank of India (SBI) raised $300mn via a 5Y formosa bond at a yield of 2.496%, 30bp inside the initial guidance of T+130bp area. The bonds have expected ratings of BBB-/BBB- (S&P/Fitch), and received orders over $1bn, 3.3x issue size. SBI is the first Indian...
