TRADE FINANCE | Tony Chua, India

SBI upgrades MTN programme size to $10bn

The lender doubled also extended 25 bps concessional home loans up to December.

State Bank of India on Thursday said it has doubled its Medium Term Note (MTN) programme to USD 10 billion to fund overseas business.

The (MTN) programme has been upsized from USD 5 billion to USD 10 billion, SBI informed the BSE.

The offering circular (OC) under the said MTN Programme has been updated on September 19, 2011, with the audited financial data of the Bank as on March 31, 2011, and filed with the Singapore Exchange, it said.

Meanwhile, SBI extended 25 basis point concessional home loan scheme till December, according to a report in Economic Times.

Under the scheme, SBI offers 25 bps discount on interest rates on its card rate across the tenor of a floating home loan.

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