Recent news reports said that State Bank of India has raised €750 million through a five-year bond. Reports say that this is the largest bond issued by an Indian company.The bond will mature on November 30, 2015 and will offers yield of 4.601 per cent.
A senior official said that the issue will offer good returns to the investors and it has produced €1.3 billion in orders from 180 investors so far.
The issue is rated Baa2 by Moody’s Investors Service and BBB by Standard & Poor’s. The SBI had held a road show in Europe on November 17 and 19. European investors were allocated 93 per cent of the bonds and the Asian investors subscribed the balance 7%.
The following are the details of the allocation of bonds to each country.
|S.No||Country||% of allocation|
|4||Netherlands and Switzerland||11|