India’s top lender SBI to tap dollar debt days after nation’s rating upgrade

State Bank of India (SBI) is planning to raise at least $500 million through dollar-denominated bonds with a five-year maturity, potentially reaching $1 billion based on demand. This move follows S&P Global Ratings’ upgrade of India’s sovereign credit rating. The bonds are expected to receive strong demand, potentially leading to a cutoff below the initial guidance of U.S.

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