SBI raises $500 mn through loan facility

Mumbai, April 18 : The State Bank of India (SBI), acting through its IFSC Gift City branch, has raised three-year funds of $500 million through syndicated loan facility. Ashwini Kumar Tewari, Managing Director, SBI, said: “The successful launch of Syndicated loan at such a fine pricing demonstrates the kind of reputation SBI has created for itself in offshore financial markets allowing it to efficiently raise funds even during ongoing turbulence in the markets caused by geopolitical tensions and rate hike expectations by US Federal reserve and other central banks across the globe. This is another important step taken by us to promote IFSC Gift City as international financial hub.” JS MR

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