This story is from April 28, 2023
SBI cuts rate on $750mn bonds after 7X bids
Mumbai: SBI has priced a 5-year $750-million bond issue at a coupon rate of 4.875%. The peak order book touched $5.4 billion, allowing SBI to tighten pricing by 40bps from initial guidance of 185bps over matching US treasury rates to final pricing of treasury+145bps, which makes it the most competitive pricing among Indian bond issuances. They will be listed on the Singapore SGX and India INX, Gift City. tnn
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