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It is another step towards SBI’s commitment to developing IFSC Gift City as an international financial hub, SBI said in a statement
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The State Bank of India (SBI) on Monday said that has raised 3-year funds of USD 500 million from its IFSC Gift City branch through a syndicated loan facility at very fine pricing
Ashwini Kumar Tewari, Managing Director, SBI said, “The successful launch of the Syndicated loan at such 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."
Tewari said that this is another important step taken by us to promote IFSC Gift City as an international financial hub.
MUFG, Bank of America and JP Morgan were the joint lenders for this offering whereas First Abu Dhabi Bank acted as facility agent.