SBI raises fresh funds through bonds from overseas market

Country's largest lender State Bank of India (SBI) Thursday said it has raised USD 1.25 billion (about Rs 8,800 crore) through bonds from overseas market to fund its business expansion. The bank has concluded the standalone issuance of fixed-rate senior unsecured notes in two tranches of USD 850 million for 5 years with a coupon of 4.375 per cent and USD 400 million for 3 years with a coupon of 4 per cent payable semi-annually, SBI said in a regulatory filing. The bonds will be issued through the London branch of the bank and will be listed on Singapore Stock Exchange and lndia lnternational Exchange, GIFT City, it said.