SBI to seek board approval for funds; Axis Bank raises $500 mn

board of directors will meet on May 12 to consider raising upto $2 billion through long term funding.
In an exchange filing released in the post-market hours of Thursday, advised its Executive Committee of the Central Board to consider the long-term fundraising plan. This plan involves raising funds in single or multiple tranches through one or more methods, including a public offer or private placement of fixed or floating rate bonds in US dollar or any other major currency during the current financial year 2027.

“To examine the status and decide on long term fund raising in single / multiple tranches of up to US$ 2 billion under Reg-S/144A, through a public offer and/or private placement of fixed / floating rate bonds in US Dollar or any other major foreign currency during FY 2026-27,” the bank said.

Meanwhile has raised $500 mln through a three year loan from Japan’s , Bloomberg reported.
The three-year facility will be priced based on the (SOFR) plus 85-basis point interest margin, the people said, asking not to be identified as the details are private. The bank plans to use the funds for lending and general business purposes, the news agency said.

The loan is now being syndicated to a broader group of lenders.