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State Bank of India to lend $500-$600 million offshore

Source : REUTERS
Last Updated: Wed, Apr 17, 2013 11:29 hrs
People walk in front of signboard displayed at head office of State Bank of India in Mumbai

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.

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