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SBI listed the maiden issue of $300 million Formosa bonds on India INX

Sumit Arora Published On January 31st, 2022 Leave a comment

State Bank of India (SBI) has issued $300 million Formosa bonds and listed the issuance on India INX GIFT IFSC. The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan. SBI was the first issuer whose Green bonds were dually listed in November 2021 on Luxembourg Stock Exchange through an MOU that has been entered into by both Exchanges.

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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.

Important takeaways for all competitive exams:

SBI Founded: 1 July 1955;
SBI Headquarters: Mumbai;
SBI Chairman: Dinesh Kumar Khara.

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About the Author

Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.