GK and monthly revision

SBI raises $300 million under RBI's ECB swap window

The State Bank of India (SBI) has successfully raised $300 million by issuing three-year senior unsecured floating-rate bonds in the overseas market. This issuance is significant as it follows the Reserve Bank of India's introduction of a concessional forex swap facility aimed at reducing the cost of foreign-currency borrowings. The bonds have a coupon linked to the Secured Overnight Financing Rate plus 100 basis points, indicating a strategic move by SBI to enhance its financial position in the global market.