BUSINESS

SBI raises $300 million of Regulation S Formosa bonds

Formosa bond is a bond issued in Taiwan.

State Bank of India (SBI) on Thursday said it has raised USD 300 million from Regulation S Formosa bonds offering a coupon of 2.49 per cent.

Formosa bond is a bond issued in Taiwan.

SBI, through its London branch, raised USD 300 million in 5-year money, which was benchmarked against the 5-year US Treasury. It was priced at a spread of 100 basis points (bps) over the benchmark, according to a statement.

The bonds will be listed on Taipei Exchange (TPEx), Singapore Exchange Securities Trading Ltd (SGX-ST) and India International Exchange IFSC Ltd (India INX), the statement said.

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