State Bank of India has hit the overseas bond market with a dual tranche benchmark issue of 5-year and 10-year maturity to raise up to $1-billion.According to the merchant bankers working on the issue, SBI today launched the roadshow in major global financial centres and will close the transaction later in the day.
The bank has given an initial pricing of 240 bps or basis points over the US treasury for the 5-year money and 265 bps over the treasury for the 10-year bond, said the merchant banker.The US treasury is trading at around 2.75 per cent.
The bank has given an initial pricing of 240 bps or basis points over the US treasury for the 5-year money and 265 bps over the treasury for the 10-year bond, said the merchant banker.The US treasury is trading at around 2.75 per cent.