State Bank of India, the country’s largest bank, has listed $ 600 million foreign currency bonds as part of its $ 10 billion global medium-term note program on the global securities market securities (GSM) GIFT from INX The IFSC’s primary market platform for raising funds from global investors.
The bonds were issued by the London branch of SBI and were valued at a record coupon of 1.80 per annum. The low coupon reflects investor confidence in the country’s largest bank and paves the way for a strong pipeline of foreign currency bond issues in 2021.
State Bank of India was one of the largest bond issuers to have listed their foreign exchange bonds on India INX, with a total of $ 2.6 billion listed on the Global Securities Market platform with this list.
Since the launch of Global Securities Market, it has been the main bond listing platform at GIFT IFSC. India INX’s Global Securities Market platform offers fundraising guidelines comparable to other international sites. MTNs established on the India INX platform since their launch in January 2018 are valued at $ 48.5 billion and above and the bond listing stands at $ 24.5 billion.
On January 12, 2021, INX derivatives revenue in India reached a new high of USD 16.86 billion. The stock exchange has made the listing of Global Depository Receipts and REITs available and will soon allow the listing of InvITs.
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