October 4, 2009 7:48 PM

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SBI to raise 4700 crores

The country's largest lender, State Bank of India, is set to raise up to Rupees 4 thousand 700 crore from the international market this month through issuing five-year maturity bonds.This will fill up the immediate fund-requirement by the bank to fuel its expansion plans in key-overseas markets. SBI has plans to set up around 40 new offices and besides expanding the lending book.The bond issue, a part of SBI's US Dollor five-billion Medium Term Notes programme launched in 2004, will target investors including banks, insurance companies, hedge funds and private equities in the global market.

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