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Market Chatter: State Bank of India-Led Consortium Agrees to $3.5 Billion Debt Financing for Vodafone Idea

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A consortium led by State Bank of India (NSE:SBIN, BOM:500112) has agreed to provide about $3.5 billion in debt financing to Vodafone Idea (NSE:IDEA, BOM:532822), Bloomberg reported Thursday, citing people familiar with the matter.

Funds from the lending consortium, which includes Union Bank of India (NSE:UNIONBANK, BOM:532477) and the National Bank for Financing Infrastructure and Development, will be used to upgrade the telecom operator's network, the report said.

SBI, Vodafone Idea, Union Bank of India, and the National Bank for Financing Infrastructure and Development 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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