Daily Current Affairs Article 21th January 2021: State Bank of India (SBI) raised $600 million of ‘Regulation S’ bonds — via its London branch — at a coupon rate of 1.8%.
The bond is priced at a spread of 140 basis points over the 5-year U.S. Treasury rate and will be listed on SGX-ST and India INX. The issuance represented SBI’s return to the international public bond markets after a gap of close to two years.
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Regulation S offerings are typically referred to as “Offshore Offering” because they mainly have to either do with a foreign company creating an offering, or an US company that is offerings its debt or equity overseas, i.e. outside the United States.
A Regulation S offerings is typical of many European offerings and the larger clearing firms in Europe, often grant access to their systems via a Regulation S offering.
