te State Bank of India (SBI) lists foreign currency bond worth $600 Million on India INX | Zee Business

State Bank of India (SBI) lists foreign currency bond worth $600 Million on India INX

SBI FOREIGN CURRENCY BOND: State Bank of India (SBI) listed Foreign currency Bonds of $600 Million under its USD 10 Billion Global Medium Term Note Programme on India INX’s Global Securities Market (GSM).

State Bank of India (SBI) lists foreign currency bond worth $600 Million on India INX
SBI Bond was issued through SBI’s London Branch and was priced at a record low coupon of 1.80 per annum. Photo: Reuters

SBI FOREIGN CURRENCY BOND: State Bank of India (SBI), the country’s largest Bank, listed Foreign currency Bonds of $600 Million under its USD 10 Billion Global Medium Term Note Programme on India INX’s Global Securities Market (GSM), GIFT IFSCs leading primary market platform for raising funds from global investors. Listing of the SBI Forex Bond took place on Thursday.

The Bond was issued through SBI’s London Branch and was priced at a record low coupon of 1.80 per annum. This demonstrates strong investor confidence in the country’s largest bank and paves way for a strong pipeline of foreign currency bond issuances in the year 2021. State Bank of India has been one of the largest issuers of bonds who have listed their foreign currency bonds on India INX with a total of $2.6 Bn listed on the Global Securities Market platform with this listing.

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Since the launch of Global Securities Market, it has been the leading listing platform for bonds at GIFT IFSC. The Global Securities Market platform of India INX offers fund raising guidelines at par with other international venues. MTNs established on India INX platform since launch in Jan 2018 are of value USD 48.5+ Bn and listing of bonds aggregate to USD 24.5 Bn. On Jan 12, 2021 India INX derivatives turnover touched a new high of USD 16.86 Billion. The Exchange has made listing of Global Depository Receipts and REITs available and will soon permit listing of InvITs.

Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Fri, Jan 15, 2021
10:01 am
New Delhi, ZeeBiz WebDesk
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