SBI raises USD 100M via senior unsecured bond tap
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SBI has raised USD 100 million by issuing additional senior unsecured floating rate notes as a tap of its existing bond maturing July 2029. The notes carry a coupon of SOFR plus 100 basis points, payable quarterly. Issued through SBI's London branch and will be listed on India INX at GIFT City.
Modest offshore capital raise; expands SBI's overseas funding base at floating rate linked to SOFR, slightly increasing its debt stack.