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SBI raises USD 300-million through Taiwanese bonds
The State Bank of India’s recent fundraising of $300 million through issuance of Formosa Bonds is a testimony of the confidence reposed by the overseas investors in the country’s growth story, its Chairman Dinesh Khara said on Friday.
By
migrator
migrator
Mumbai
The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan.
“This first successful issuance of Formosa Bond by any Indian commercial bank, is a testimony of the confidence reposed by the overseas investors into India’s growth story and also in SBI, in particular.
“This is a reflection of India’s March towards the next step of being a developed country,” Khara said at the listing ceremony of the Formosa Bonds on India INX.
He said the issuance is a step further in the direction of the globalisation of the world, when a bank could raise money for those markets which have remained untapped for several years.
“It clearly reflects how far India has reached in terms of the acceptability with all the international investors,” Khara said.
The lender had said that a wide range of investors such as supranational agencies, assets managers, private bankers and financial institutions have invested in the issue.
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