MUMBAI/SINGAPORE Jan 2 State Bank of India
, the country's largest lender, raised 20 billion rupees
($323.34 million) through the sale of Tier 2 10-year bonds at
9.69 percent, two sources with knowledge of the deal said.
The debt is compliant with Basel III requirements, and SBI
Capital Markets will be the arranger, the sources added. Both
declined to be identified because the deal has not been
The pay-in occurred on Wednesday, and the allotment is due
to take place on Thursday, said one of the sources, who added
the debt was placed with pension funds and insurance companies
among other investors.
($1 = 61.8550 Indian rupees)
(Reporting by Archana Narayanan in MUMBAI and Manju Dalal from
IFR in SINGAPORE; Editing by Rafael Nam)