India’s largest lender State Bank of India (SBI) is looking to tap the US bond markets to raise $500-750 million, said a person aware of the development.
SBI is planning to raise funds through Regulation S bonds, said the person cited above, adding that the roadshows could begin as early as next week. Bank officials have held discussions with about six bond arrangers, the person cited above said.
“It is better if they do not wait much longer since there will be a surge in dollar bond issuances later in January and beyond. It will be announced soon,” said the person cited above, who spoke on condition of anonymity.
Raised by foreign issuers in the US, Regulation S bonds cannot be subscribed to by US citizens. While the tenor of the bond could not be immediately ascertained, SBI had raised five-year $750 million in Regulation S…
