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State Bank of India plans to sell up to Rs. 5 billion of subordinated bonds
By Reshmi Basu
New York, Aug. 18 - State Bank of India said it received approval from its executive board for its proposal to raise up to Rs. 5 billion of unsecured subordinated perpetual bonds.
The issue will carry a tenor of at least five years and will be issued via a private placement, structured deal or book building process.
State Bank of India is a New Delhi, India-based state-run bank.
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