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State Bank of India to raise up to USD1bn.

Global Banking News-5 October 2009-State Bank of India to raise up to USD1bn(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 05 October 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

State Bank of India (SBI) (SBIN.NS) (500112.BO), India's largest bank by assets, is looking to raise between USD700m and USD1bn in international markets, Economic Times has reported.

The funds will be raised under the bank's medium-term note, or MTN, programme, the report said, adding that the bank had raised its borrowing limit under its MTN programme to USD5bn in 2007 from USD1bn earlier.

The time frame in which the bank is likely to raise the funds has not been disclosed.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Oct 5, 2009
Words:140
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