IFLR1000

State Bank of India $300 million AT1 MTN issue

9/9/2016
Investment grade bond/note issue
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$ 300 million

Completed

9/9/2016

Overview:

  • State Bank of India (SBI), India's largest bank, is the first Indian bank to attempt raising additional tier 1 (AT1) bonds in the overseas market. 
  • SBI used its DIFC branch to issue the perpetual notes under its existing $10 billion MTN programme. 
  • Bank of America Merrill Lynch, Citi, HSBC, JPMorgan, National Bank of Abu Dhabi, SBI Capital Markets and Standard Chartered Bank acted as underwriters and joint lead managers.

Wai Yee Tsang - Journalist

Jurisdictions:

United States
India

Deal type:

Investment grade bond/note issue

Practice area:

Capital markets : Debt

Industry sector:

Banking

Firms:
Allen & Overy

Party: State Bank of India (Issuer)

Linklaters

Party: Bank of America Merrill Lynch (Lead manager)

Party: HSBC (Lead manager)

Party: JPMorgan Chase (Lead manager)

Party: National Bank of Abu Dhabi (Lead manager)

Party: SBI (Lead manager)

Party: Standard Chartered (Lead manager)

Party: Citigroup (Lead manager)

Lawyers: Amit Singh, Jonathan Horan

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