Bank of India seeks first dollar syndicated loan worth $400 million in more than a decade: Report
1 day, 14 hours ago

Bank of India seeks first dollar syndicated loan worth $400 million in more than a decade: Report

Live Mint  

Bank of India said it is marketing its first dollar syndicated loan since 2012 of as much as $400 million. The lender is raising the loan — split into three- and five-year tranches — via its branch located in Gujarat International Finance Tec-City, Rajesh V Upadhya, company secretary at Bank of India said in an email reply to a Bloomberg News query, confirming an earlier report. Reliance Industries Ltd. is looking to borrow as much as $3 billion, in what could be the largest loan from the country since 2023, while Shriram Finance Ltd. is planning to syndicate part of a $1.28 billion multi-currency social financing, the biggest ever offshore deal from an Indian shadow lender. Meanwhile, State Bank of India is marketing a ¥30 billion syndicated facility, and also plans to raise as much as $1.25 billion in what could be the country’s biggest dollar loan from the banking sector this year.

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History of this topic

SBI set to borrow $1.25 billion, India’s largest dollar-denominated bank loan in 2024; details here
1 month, 4 weeks ago

SBI set to borrow $1.25 billion, India’s largest dollar-denominated bank loan in 2024; details here

Live Mint  

The State Bank of India, India's largest public sector bank, is planning to raise up to $1.25 billion, marking the biggest dollar-denominated loan in the country's financial sector. Dollar loan volume declines The report said that despite these loans, India's dollar loan volume has declined 27 per cent to $14.2 billion this year due to the absence of large company …

State Bank of India to raise USD 3 billion through debt in FY2025, shares rise
7 months ago

State Bank of India to raise USD 3 billion through debt in FY2025, shares rise

Live Mint  

India's largest lender State Bank of India, announced on June 11 that its board has approved a plan to raise up to $3 billion through debt in the current financial year, as per an exchange filing. The state-owned financial institution plans to secure the funds in multiple tranches via either a public offering or private placement of senior unsecured notes. …

Bank of India Slashes Home Loan Rates By 15 Bps To 8.3% Until March 31
9 months, 3 weeks ago

Bank of India Slashes Home Loan Rates By 15 Bps To 8.3% Until March 31

ABP News  

The Bank of India, a public sector lender, announced on Tuesday a notable adjustment in its new home loan interest rates, reducing them from 8.45 per cent to 8.3 per cent. Bank of India proudly asserted that at the reduced rate of 8.3 per cent, it stands as the institution offering the lowest rate among its counterparts in the industry. …

India’s external debt rises to $629.1 billion at end-June 2023: RBI
1 year, 3 months ago

India’s external debt rises to $629.1 billion at end-June 2023: RBI

The Hindu  

India’s external debt at end-June 2023 was placed at $629.1 billion, recording an increase of $4.7 billion over its level at end-March 2023 according to data released by the Reserve Bank of India on September 28. Excluding the valuation effect, external debt would have increased by $7.8 billion instead of $4.7 billion at end-June 2023 over end-March 2023. Net outgo …

SBI, ICICI, Other Banks Hike Foreign Currency Interest Rates Following RBI's Forex Flow Relaxation
2 years, 6 months ago

SBI, ICICI, Other Banks Hike Foreign Currency Interest Rates Following RBI's Forex Flow Relaxation

News 18  

New Delhi: SBI, ICICI Bank and IDFC First Bank have raised interest rates on foreign currency non-resident deposits in response to the Reserve Bank’s relaxation last week to shore up forex inflows. The largest public sector lender State Bank of India has revised the foreign currency non-resident deposits rates on US dollar in the range of 2.85-3.25 per cent per …

India Inc's foreign borrowings jump 24% to $9.23 bln in March
3 years, 8 months ago

India Inc's foreign borrowings jump 24% to $9.23 bln in March

The Hindu  

India Inc's external commercial borrowings jumped by over 24 per cent to USD 9.23 billion in March this year, RBI data showed. IRFC raised a total of USD 3.33 billion in three tranches for the purpose of infrastructure development, while ONGC Videsh Rovuma Ltd borrowed USD 1.6 billion for overseas acquisition. Among the top borrowers in the automatic route, Adani …

RBI buys so many US dollars that it ends up supporting debt market
4 years, 6 months ago

RBI buys so many US dollars that it ends up supporting debt market

Live Mint  

The Reserve Bank of India has accumulated so many dollars recently that it’s having a knock-on impact on the nation’s sovereign debt market. “The central bank’s FX policy is achieving multiple objectives of augmenting reserves, creating liquidity that’s helping demand for bonds, and at the same time curbing rupee volatility,” said Naveen Singh, head of fixed-income trading at ICICI Securities …

External commercial borrowings of firms jump 50% in April-September
5 years, 2 months ago

External commercial borrowings of firms jump 50% in April-September

Live Mint  

External commercial borrowings of Indian companies jumped nearly 50% in the six months ended 30 September from a year ago, thanks to cheaper overseas funds, easier overseas borrowing norms and weakened local banks. “The constrained and relatively high-cost lending of domestic banks and financial institutions on account of stressed asset quality, heightened risk aversion and strained liquidity conditions has, in …

SBI gets board approval to raise up to $2.5 billion in bonds
5 years, 8 months ago

SBI gets board approval to raise up to $2.5 billion in bonds

Live Mint  

Mumbai: The State Bank of India Wednesday said its board has given its approval to raise up to $2.5 billion through bonds in FY20. In a statement issued Wednesday, SBI said the board has approved “long-term fund raising in single/multiple tranches up to $2.5 billion under Reg-S/144A, through a public offer and/or private placement of senior unsecured notes in US …

India Inc's foreign borrowings fall 9% to $2.81 bn in February; Oil India, IOC, Shriram Transport Finance among major borrowers
5 years, 9 months ago

India Inc's foreign borrowings fall 9% to $2.81 bn in February; Oil India, IOC, Shriram Transport Finance among major borrowers

Firstpost  

The entire fund mop-up during the month was done through the automatic route of ECB, showed the RBI data. Mumbai: India Inc’s borrowings from foreign markets fell to $2.81 billion in February, down by 9 percent as compared to the year-ago month, data from the Reserve Bank of India showed on Friday. Among the major borrowers were Oil India Ltd, …

Air India may seek govt fund infusion if bank loan doesn’t come
6 years, 1 month ago

Air India may seek govt fund infusion if bank loan doesn’t come

Live Mint  

Mumbai: State-run Air India Ltd could seek financial assistance from the Centre during the winter session of parliament, if it fails to raise ₹500 crore in short-term debt from banks, a senior official of the national carrier said. Air India, which is reeling under a huge debt of ₹ 55,000 crore, including working capital debt of over ₹ 35,000 crore, …

Yes Bank raises $400 million through syndicated loan facility
6 years, 4 months ago

Yes Bank raises $400 million through syndicated loan facility

Live Mint  

New Delhi: Private sector lender Yes Bank Tuesday said it has raised $400 million by way of syndicated loan facility, through IFSC Banking Unit in Gujarat International Finance Tec City. “The bank has tied up a three-year loan facility in a syndication led by Bayerische Landesbank, Commerzbank, CTBC Bank, First Abu Dhabi Bank PJSC, Korea Development Bank, State Bank of …

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