Politics
Indian Banks Line Up $2.5 Billion Debt Sales Using RBI Swap
Key Points
Indian Banks Line Up $2.5 Billion Debt Sales Using RBI Swap At least four lenders including the State Bank of India are preparing to raise about $2.5 billion selling bonds in the coming weeks, tapping a Reserve Bank of India facility that makes it cheaper to borrow dollars, according to people familiar with the matter. State Bank may raise as much as $1 billion, while Axis Bank, Bank of Baroda and Power Finance Corp. each plan to raise at least $500 million, said the people, who asked not to...
Indian Banks Line Up $2.5 Billion Debt Sales Using RBI Swap
At least four lenders including the State Bank of India are preparing to raise about $2.5 billion selling bonds in the coming weeks, tapping a Reserve Bank of India facility that makes it cheaper to borrow dollars, according to people familiar with the matter.
State Bank may raise as much as $1 billion, while Axis Bank, Bank of Baroda and Power Finance Corp. each plan to raise at least $500 million, said the people, who asked not to be identified because the information is private. Most of the borrowing will be for five years, the people said.
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