State Bank of India, the Country's Largest Lender, Is Tapping the Dollar Debt Market Through a Public Issue of Five-year

The bank is likely to raise at least $500 million (₹50 crore) through the issue, with the final size dependent on investor demand. The initial price guidance has been set at 120 basis points over US Treasuries. The lender has begun marketing the bonds and is expected to complete the sale before the end of the week, the bankers said, requesting anonymity as they are not authorised to speak to media.

SBI had planned to raise $1 billion (₹100 crore) through a dollar bond sale in June but deferred the issuance after borrowing costs rose due to heavy supply from Indian lenders. The lender did not immediately reply to a email seeking comment outside business hours. State Bank of India plans to raise $500 million through a five-year dollar bond issue to tap the debt market.

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