SBI raised €750 million through bond issue

By News Desk | October 24, 2010

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
1 Germany 24
2 UK 21
3 France 15
4 Netherlands and Switzerland 11
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