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Bond Market News
SBI Said to Plan Raising Up to $3bn via Offshore Bonds
May 15, 2025
State Bank of India (SBI) is set to consider raising up to $3bn via offshore bonds during the fiscal year ending 2026. The bank’s executive committee is scheduled to meet on 20 May 2025, to deliberate on the proposed fundraising plan. This potential issuance could be conducted either through a public offering or a private placement of offshore bonds. SBI last issued a dollar bond in November 2024 via its London branch, raising $500mn via a 5.125% bond due 2029. The proposed $3bn issuance reflects SBI’s strategy to boost its capital base and support its international operations. SBI has been a consistent issuer of dollar bonds from the Indian subcontinent over the past four years, indicating its ability to access global capital markets.
SBI’s 5.125% 2029s were trading stable at 100.1, yielding 5.1%.
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