Chennai: Global credit rating agency Moody’s Investors Service on Tuesday gave a Baa3 rating to State Bank of India’s (SBI) proposed US dollar denominated senior unsecured notes.
The notes are issued under SBI’s $10 billion Medium-Term-Note (MTN) programme.
The drawdown will be carried out from its London branch, and the bonds will be listed on the Singapore Stock Exchange.
The outlook on the ratings, where applicable, is positive.
The senior debt rating is subject to receipt of final documentation, the terms and conditions of which are not expected to change in any material way from the draft documents reviewed by Moody’s.