State Bank of India (SBI) on Wednesday said it has raised USD 1 billion or (about Rs 8,300 crore) to cater to the domestic ESG financing market.The bank has concluded the issuance of USD 1 billion (USD 750 million and green shoe of USD 250 million) through Syndicated Social Loan, SBI said in a regulatory filing.
The loan book was closed on January 2, 2024, it said.Last year too, the country’s largest lender had raised USD 1 billion syndicated social loan. The fund raised would would cater to domestic ESG (Environmental, Social and Governance) financing market.The funds were raised through two tenures: a three-year and a five-year loan. These funds were raised at 80 basis points and 100 basis points over the secured overnight financing rate (SOFR), respectively.
From an asset quality perspective, its gross non-performing assets ratio was at 2.55 per cent as of September 30, improving from 3.52 per cent in the year-ago period and 2.76 per cent in the first quarter of the current fiscal.
