State Bank of India accepts $600 mn bids for 5-year dollar bonds State Bank of India has accepted bids worth $600 million for its five-year U.S. dollar-denominated bond issue, the lender said in a notice to stock exchanges late on Wednesday. The nation’s largest bank will pay a semi-annual coupon of 5.00%, the notice showed. On Wednesday, Reuters had reported that SBI appointed Bank of America, BNP Paribas, HSBC, JP Morgan, MUFG and Standard Chartered Bank as the joint lead managers for the issue. The initial price guidance was set at a spread of 150 basis points over the five-year U.S. yield. The issue will settle on Jan. 17, and the proceeds will be used for general corporate purposes and to meet the funding requirement of SBI’s foreign offices/branches, the term sheet showed. Earlier this month, SBI raised $1 billion through a syndicated loan.
The India Meteorological Department informed that dense to very dense fog conditions are very likely to continue in many parts of Punjab, Haryana, Chandigarh, and Delhi during the night and morning hours for the next three days.
“Dense to very dense fog conditions very likely to continue during night/morning hours in many parts of Punjab, Haryana, Chandigarh, Delhi during Dec 28-29 and in some parts for subsequent 3 days. Dense to very dense fog conditions very likely to continue during night/morning hours in some parts of Uttar Pradesh during Dec 28-29 and Dense fog in isolated pockets for subsequent 3 days,” the weather office said in its five day bulletin.