SBI puts on hold overseas bond issuance amid market chaos
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The largest lender of the country, SBI's $1-1.5 billion overseas bond issuance has been delayed following volatility in global financial markets, the Lok Sabha was informed today.
State Bank of India (SBI) has been raising resources from capital markets by way of bond issuances from time to time to take care of its asset growth and ensure repayment of maturing liabilities.
"SBI has been considering an issuance of $1-1.5 billion recently, partly to repay maturing bond liabilities and partly to fund asset growth. However, in view of the volatility in the global financial markets, the issuance has not materialised," Minister of State for Finance Jayant Sinha said in a written reply.
Asked about the timing of the bond issuance, Sinha said "timing has not been decided".
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