SBI lists maiden issue of $300-mn Formosa bonds on India INX

The State Bank of India's recent fundraising of $300 million through the issuance of Formosa Bonds is a testimony of the confidence reposed by the overseas investors in the country's growth story.

The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan.

This first successful issuance of Formosa Bond by any Indian commercial bank is a testimony of the confidence reposed by the overseas investors into India's growth story and also in SBI, in particular.

"This is a reflection of India's March towards the next step of being a developed country," Khara said at the listing ceremony of the Formosa Bonds on India INX.

Source: Business Standard