State Bank of India (SBI) has raised $500 million via five-year bonds from international investors through its London branch at a very fine pricing, with the state-owned lender receiving as much as $3 billion in bids for the debt sale, said sources aware of the development. The bonds have been priced 82 basis points (bps) above the US Treasury, sources said. The initial pricing guidance for the issuance was 115 bps over the US Treasury but the state-owned lender managed to compress the pricing and the final pricing guidance came in at T* 82 bps, managing a compression of 33 bps. One basis point is one-hundredth of a percentage point. The spread at which SBI has raised funds is one ofthe tightest spreads witnessed by an Indian financial institution, according to sources. The order S tate Bank of India (SBI) has raised book for the issuance was close to $3 billion, indicating good demand from global interest.
Esta historia es de la edición November 19, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 19, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Isro to study how crops grow in space
Demonstration of seed germination in outer space, a robotic arm to catch tethered debris there, and testing of green propulsion systems are some of the experiments planned on the POEM-4—the fourth stage of Isro's PSLV rocket that remains in orbit after launching a satellite.
On offer: Deals for seniors in hotels
Tour operators, hospitality industry roll out customised options for a senior population keen to travel for leisure, adventure
Hotels expect further rise in room rates next year
After hotel room rates hit record highs in 2024, they are set to rise further in 2025 driven by a surge in demand of 7-8 per cent across segments.
Looking back at 2024
The overarching theme of this year has been the RBI's new approach to vigilance
TIFF OVER TARIFF
Trump is talking tariffs once again. What does that mean for Indian exports?
INDIAN TECH STARTUP SCENE IN 2024: MORE UNICORNS, MORE EXITS
India's technology startup ecosystem got six new unicorns in 2024. There were two last year. The new unicorns – startups reaching $1 billion valuation – specialise in lending, logistics, software and generative intelligence.
How agentic AI will work for the world on its own
A new era in artificial intelligence (AI) is underway. In a few months, evolved versions of the technology will emerge and find mainstream applications.
'Cloud and AI will become synonymous in 2025'
JO DEBECKER, managing partner and global head of Wipro FullStride Cloud, believes that a combination of Cloud services and artificial intelligence (AI) will become the \"foundation\" for the success of enterprises. The processing power and data needed to build and train AI models come from Cloud. Debecker, in a video interview with Shivani Shinde, spoke about the two technologies and how Wipro is preparing to be an AI-powered firm. Edited excerpts:
Startups chart new course in space
Indian companies make a mark in downstream sector that uses space data for practical applications, reports SHINE JACOB
Boost term cover with rising income and liabilities
Increase health cover to tackle rising medical costs; consider super-topup and critical illness plan
