The bond is benchmarked against the 5-year US treasury and priced at a spread of 100 basis points over the benchmark
The top 5 sectors in which the scheme is invested in are IT, consumer discretionary, health care, financials, and industrials. Representational image
Mumbai: The country’s largest lender State Bank of India (SBI) through its London branch raised $300 million of ‘Regulation S’ Formosa bonds at a coupon rate of 2.49 per cent. The bond is benchmarked against the 5-year US treasury and priced at a spread of 100 basis points over the benchmark.
The bonds will be listed on Taipei Exchange, Singapore Exchange Securities Trading and India International Exchange IFSC. Formosas are foreign-currency bonds, raised in Taiwan and generally listed on the Taipei exchange.
SBI said the transaction received an overwhelming response and saw strong interest from investors across geographies.
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