The State Bank of India (SBI) has successfully raised $1 billion (approximately Rs 8,300 crore) through a Syndicated Social Loan to support the domestic Environmental, Social, and Governance (ESG) financing market. The funds were raised in two tenures, with a three-year and a five-year loan, at 80 and 100 basis points over the secured overnight financing rate (SOFR), respectively. This move follows a similar $1 billion syndicated social loan raised by SBI last year. The bank reported an 8% increase in net profit to Rs 14,330 crore during the second quarter ended September 30, 2023.
SBI Raises $1 Billion for Domestic ESG Financing Market
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