SBI raises $300 million under RBI's ECB swap window

State Bank of India has raised $300 million through Regulation-S senior unsecured floating-rate notes issued via its London branch, under the Reserve Bank of India's concessional external commercial borrowings swap window announced on June 5. The three-year bonds carry a coupon of SOFR plus 100 basis points, with interest payable quarterly; the RBI facility lets qualifying public sector undertakings and infrastructure firms hedge ECBs through a forex swap at a fixed annual rate of 1.5%. The article also notes Capri Global Capital is preparing to raise around $300-500 million via overseas bonds under its existing $1 billion Global Medium Term Note programme.