State Bank of India to sell $681mln Euro bonds

The bank will meet investors in 9 European cities from Nov. 17 to sell five year debt.

State Bank of India, the nation’s largest lender, plans to raise 500 million euros ($681 million) selling bonds, Deputy Managing Director Pratip Chaudhuri said in an interview on Tuesday.

The bank will sell the five-year debt next week, Chaudhuri said. “The bonds will be senior debt with a bullet repayment,” he said.

Indian companies have sold $7.5 billion of dollar bonds this year, nearing a record $9.3 billion raised in 2007. State Bank last sold euro-denominated notes in 2005 when it raised 100 million euros.

The bank will meet investors in Amsterdam, Brussels, Frankfurt, London, Milan, Munich, Paris, Vienna and Zurich from Nov. 17, Chaudhuri said. Barclays Capital, BNP Paribas SA, Credit Agricole CIB, Deutsche Bank AG, Standard Chartered Plc and UBS AG are arranging the meetings.

View the full story in Business Week.

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