State Bank of India to raise international investments valued USD750 million

By Staff Reporter

Apr 09, 2014 03:04 PM EDT

State Bank of India (SBI) has been ready to take in USD750 million to USD1 billion through the sale of its bonds. This would renew the funds raised by Indian firms in the middle of increasing economic confidence, reported ET.

SBI will be in the spotlight in the next two days following Oil India Ltd’s move to raised USD1 billion on Tuesday. Meanwhile, ET reported that international investors have predicted that a better economy outlook has been set for improvement.

According to a source who spoke in condition of anonymity as the matter was held private in nature told ET that “The bonds were set to be priced between 240 basis points and 250 basis points. This would be above the 10 year US treasuries.”

The person added, "The road shows are on. The spreads have narrowed quite bit since January when the prospects of a stable government began to appear probable."

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