Mumbai, Jan 28 (UNI) Public sector lender State Bank of India has listed the maiden issue of $300 million Formosa bonds on India INX GIFT IFSC. This is the first such issue by any Indian Bank in the Formosa Bond market, a release said.
V. Balasubramaniam, MD and CEO, INDIA INX, said: ”We are delighted to be the first Exchange in IFSC to list Formosa Bonds issued by SBI. We thank SBI team for continually reposing this trust on our platform and congratulate them on their success. “SBI was the first issuer whose Green bonds were listed in November 2021 on Luxembourg Stock Exchange through a MoU that has been entered into by both Exchanges.
With this, our total bond listings are now over $34.5 + Billion with the total medium term notes established to the tune of $58+ Bn, making our Exchange the platform of choice for issuers of foreign currency bonds.” Ashwini Kumar Tewari, Managing Director, SBI, said: ”This is a proud moment for SBI as we mark today’s ceremony for listing of our first dollar denominated Formosa issuance on the India INX platform. This issuance was at the tightest spread ever for a 5-year public issuance by an Indian financial institution, which demonstrates the strong investor base SBI has created for itself in the offshore capital markets allowing it to venture in to new markets.”
