This is SBI’s first offshore USD SOFR linked syndicated loan through Gift City office
This is SBI’s first offshore USD SOFR linked syndicated loan through Gift City office
State Bank of India (SBI), operating through its IFSC Gift City branch, has raised $500 million in 3-year funds through a syndicated loan facility, the bank said in a statement.
The facility is priced at $400 million plus a $100 million greenshoe option. Its strong presence in international markets helped it achieve “very tight pricing,” it said.
This is SBI’s first offshore USD-SOFR linked syndicated loan through Gift City branch, she added.
Ashwini Kumar Tewari, MD, SBI said, “The successful launch of a syndicated loan at such an affordable price demonstrates the reputation SBI has built in the offshore financial markets for efficiently raising funds even during prolonged market turmoil.”
“This is another important step by us to promote IFSC Gift City as an international financial hub,” he added.
