SBI raises over Rs 3,800 crore through IFSC Gift City branch

The country's largest lender State Bank of India said it has raised over Rs 3,800 crore through its IFSC Gift City branch.

Published: 18th April 2022 01:43 PM  |   Last Updated: 18th April 2022 01:43 PM   |  A+A-


SBI (File Photo | EPS)


MUMBAI: The country's largest lender State Bank of India (SBI) on Monday said it has raised USD 500 million (over Rs 3,800 crore) through its IFSC Gift City branch.

This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch, a release said.

The facility is for USD 400 million plus USD 100 million as a green shoe option.

"The successful launch of syndicated loan at such a 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," its Managing Director Ashwini Tewari said.

MUFG, Bank of America and JP Morgan were the joint lenders for this offering whereas Fist Abu Dhabi Bank acted as the facility agent.

It is another step towards the bank's commitment to develop IFSC Gift City as an international financial hub, the release said.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp