SBI Board approves raising up to $2 bn

New Delhi, April 28

The country’s largest lender, SBI, said its central Board in its meeting held on Wednesday has approved raising up to $2 billion through bonds in the current financial year.

The Executive Committee of the Central Board in its meeting on April, 28, 2021 has approved long-term fund raising in single/multiple tranches of up to $2 billion, SBI said in a regulatory filing. The funds are to be raised through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during financial year 2021-22, SBI said. — PTI