Through a syndicated credit agreement, the State Bank of India (SBI), acting through its IFSC Gift City branch, has raised $500 million over three years.
Ashwini Kumar Tewari, Managing Director, SBI, said, “The successful launch of the Syndicated loan at such fine pricing demonstrates the kind of reputation SBI has created for itself in offshore financial markets allowing it to efficiently raise funds even during ongoing turbulence in the markets caused by geopolitical tensions and rate hike expectations by US Federal Reserve and other central banks across the globe. This is another important step taken by us to promote IFSC Gift City as an international financial hub”.
