SBI board approves $2-billion fundraise via bonds for FY23
时间:2024-06-26 14:14:31 阅读(143)
The board of State Bank of India (SBI) on Tuesday approved the bank’s proposal to raise up to $2 billion through debt securities in the international market in FY23.
The approval applies to long-term fundraising in a single or multiple tranches under Reg-S/144A, through a public offer or private placement of senior unsecured notes in US dollar or any other convertible currency.
SBI’s capital adequacy ratio (CAR) as at the end of Q3FY22 stood at 13.23%, with the tier-1 ratio at 10.91%. The bank’s shares ended at Rs 475.10 on the BSE on Tuesday, down 0.13% from their previous close.
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The launched works involve rehabilitating the Galgamuwa Railway Station and upgrading the railway line from Maho to Anuradhapura, including additional tasks. Another project is the second phase of track rehabilitation from Maho to Omanthai (128 kms), funded by a $318 million Indian Line of Credit.
Transport Minister Gunawardena praised the efforts of Indian company IRCON in Sri Lanka and called for more cooperation in the railway sector. State Minister Shantha Bandara and officials from the Sri Lankan Ministry of Transport attended the event.
Railways is a priority for Indian assistance in Sri Lanka, with over $1 billion invested under five Indian Lines of Credit. IRCON has been involved in Sri Lanks since 2009. It has contributed to the modernisation of Sri Lanka Railways by reconstructing the entire railway line network in the Northern Province (253 Km) and upgradation of the Southern line (115 km), as well as improving safety through advanced signalling and telecommunication systems.
Despite Sri Lanka’s debt standstill in April 2022, India’s support under various Lines of Credit has continued.
(With PTI inputs)
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