SBI considers increase as loan draws to close
Funding officials at State Bank of India face a welcome question: how much money do they want to raise in the loan market? The bank has easily enough interest to boost its $300m loan by another $100m, but bankers now think it could increase the deal even further to accommodate the heavy demand.
SBIs 10 bookrunners each committed $30m before launch, securing the borrowers initial target of $300m. But 10 more banks have joined the three year deal in syndication, giving some of the leads confidence that they can boost the deal beyond $400m.
The lender is offering pricing tighter than Bank
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