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4 years ago
CORRECTED-State Bank of India to lend $500-$600 mln offshore (April 16)
April 17, 2013 / 10:51 AM / 4 years ago

CORRECTED-State Bank of India to lend $500-$600 mln offshore (April 16)

1 Min Read

(Corrects headline and first paragraph to say SBI will lend $500-$600 million, not raise)

MUMBAI, April 16 (Reuters) - State Bank of India plans to lend $500-$600 million to corporates in external commercial borrowings in three to four months time, a senior executive said on Tuesday.

India's largest lender priced a five-year, $1 billion bond issue with a coupon of 3.25 percent last week, generating interest of more than four times the bond size, said Hemant Contractor, managing director of international business. (Reporting by Swati Pandey; Editing by Gopakumar Warrier)

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