By Mary-Katherine Stinson
Lexington, Ky., May 8 – State Bank of India, acting through its London Branch, sold $750 million of 4 7/8% senior notes due May 5, 2028, according to a listing notice.
The notes priced at 99.698.
Citigroup Global Markets Ltd., Emirates NBD Bank PJSC, HSBC Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. Singapore Branch and Standard Chartered Bank are the bookrunners.
Proceeds, according to the program under which the notes were issued under, will be used to meet the funding requirement of the bank’s foreign offices, strengthen the capital base of the bank’s foreign offices and for general corporate purposes.
The issuer is a Mumbai-based multinational public sector bank.
| Issuer: | State Bank of India
|
| Amount: | $750 million
|
| Issue: | Senior notes
|
| Maturity: | May 5, 2028
|
| Bookrunners: | Citigroup Global Markets Ltd., Emirates NBD Bank PJSC, HSBC Ltd., J.P. Morgan Securities plc, MUFG Securities Asia Ltd. Singapore Branch and Standard Chartered Bank
|
| Trustee: | Citicorp International Ltd.
|
| Counsel to issuer: | Linklaters Singapore Pte. Ltd. and J. Sagar Associates
|
| Counsel to underwriters: | Allen & Overy (Asia) Pte Ltd.
|
| Coupon: | 4 7/8%
|
| Price: | 99.698
|
| Change of control: | At 101
|
| Trade date: | April 27
|
| Settlement date: | May 5
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
| ISIN: | XS2615928863
|
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