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.
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.