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Market Chatter: State Bank of India Eyes Five-Year Dollar Bond Issue, Sources Say

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State Bank of India (NSE:SBIN, BOM:500112) is preparing to tap the international dollar bond market with a five-year offering, its first public issuance in nearly a year, Reuters reported Tuesday, citing three merchant bankers.

The bonds will be sold through the lender's London branch, with initial guidance set at around 120 basis points above U.S. Treasuries, according to the report.

SBI is expected to raise at least $500 million from the deal, although the final amount will depend on investor demand, the report said.

SBI did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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