SBI to sell 100 billion-rupee infra bonds by end of November

15 Nov 2024 CW Team

State Bank of India (SBI), the country’s largest lender, is set to issue infrastructure bonds worth 100 billion rupees (approximately $1.19 billion) by the end of November. This move comes as demand for credit remains strong in sectors such as steel, roads, and renewable energy.

The bond issuance will be SBI's third this year and is expected to raise funds for long-term infrastructure development projects. According to sources with direct knowledge of the matter, the bank will issue a 15-year bond to meet its financing needs. While SBI's board has already approved the bond issue, it did not provide further details in its announcement.

The infrastructure bonds will help fund various development initiatives and infrastructure projects across India. These bonds are commonly used by banks to raise capital for long-term investments in sectors critical to economic growth.

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