SBI To Consider Raising Up To $2 Billion Via Bonds

The country's largest lender SBI on Wednesday said it's board will meet next week to consider raising up to $2 billion through a public issue of bonds or other means.

'We advise that the executive committee of the central board is scheduled to have a meeting on May 10, 2022 to examine the status and decide on long term fund raising in single/multiple tranches up to $2 billion through a public offer and/or private placement of senior unsecured notes in U.S. dollar or any other convertible currency during FY23,' SBI said in a regulatory filing.

Stock of SBI closed at Rs 479.60 apiece on the BSE, down by 2.27% from its previous close.