This is the first Offshore USD SOFR Linked Syndicated Loan by SBI through GIFT City branch
This is the first Offshore USD SOFR Linked Syndicated Loan by SBI through GIFT City branch
State Bank of India (SBI) has raised a 3-year fund of $500 million through a syndicated loan facility through its IFSC GIFT City branch, the bank said in a statement.
The facility is worth $400 million and $100 million as a green shoe option. Its strong presence in international markets helped it achieve “very strict pricing”, it said.
This is the first off-shore USD SOFR linked syndicated loan by SBI through GIFT City branch.
SBI MD Ashwini Kumar Tiwari said, “The successful launch of syndicated loans at such a good value reflects the kind of reputation SBI has built for itself in the offshore financial markets, enabling it to remain efficient even during the ongoing turbulence in the markets. to raise money from.”
“This is yet another important step taken by us to promote IFSC GIFT City as an international financial hub,” he added.