SBI board approves raising up to $2 billion via bonds in FY23

The country’s largest lender SBI on Tuesday said its board has approved raising up to $2 billion (about Rs 15,430 crore) from the overseas market during the current fiscal to fund foreign business growth.

The central board has approved raising of funds through single or multiple tranches, SBI said in a regulatory filing. The long-term funds of up to $2 billion would be raised through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible currency during 2022-23, it added.