State Bank of India $1.25 Billion Loan
State Bank of India (SBI) is seeking a
.25 billion loan, the largest financial sector borrowing in India for 2024. Arranged by CTBC Bank, HSBC, and Taipei Fubon, the loan will fund corporate purposes and is facilitated through Gujarat International Finance Tec-City. It features a five-year term with a margin of 92.5 basis points over SOFR. This reflects a broader trend of dollar borrowing among Indian entities, despite a 27% decline in total dollar loans this year due to reduced large company borrowings. Syndication will involve multiple financiers to distribute risk.
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