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SBI raises $600 million of ‘Regulation S’ bonds

Part of: GS Prelims and GS-III – Banking; Economy

In news

State Bank of India (SBI) recently raised $600 million of ‘Regulation S’ bonds — via its London branch — at a coupon rate of 1.8%.

Key takeaways

The bond is priced at a spread of 140 basis points over the 5-year U.S. Treasury rate and will be listed on Singapore Exchange Securities Trading Limited (SGX-ST) and India International Exchange Limited (India INX).
The issuance represented SBI’s return to the international public bond markets after a gap of close to two years.
Regulation S offerings are typically referred to as “Offshore Offering” because they mainly have to either do with a foreign company creating an offering, or an US company that is offerings its debt or equity overseas, i.e. outside the United States.
A Regulation S offering is typical of many European offerings and the larger clearing firms in Europe, often grant access to their systems via a Regulation S offering.

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