SBI plans to raise Rs 17,000 cr from bonds for overseas business

State Bank of India Thursday said it plans to raise USD 2.5 billion (about Rs 17,000 crore) through bonds to fund expansion of overseas business. The executive committee of the central board will take decision in this regard on April 24, SBI said in a regulatory filing.

The committee will decide on long-term fundraising in single/multiple tranches up to USD 2.5 billion through a public offer or private placement of senior unsecured notes in US Dollar or any other convertible currency during 2019-20, it said.