SBI and Shriram Finance hit overseas bond market amid investor exuberance
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Both Shriram and SBI launched their issues on Wednesday. The proceeds could be used to expand credit.
Agencies
Fundraising this year could only accelerate as companies plan to meet resurgent demand amid accelerating economic activity.
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At least four local borrowers - Power Finance Corp, Rural Electrification Corp (REC), Shriram Transport Finance and
State Bank of India (SBI) - are seeking to collectively raise up to $2.5 billion in overseas bond sales after Exim Bank’s spectacular debut for the year earlier this week.