State Bank of India Secures $300 Million Through Floating Rate Notes
These debt instruments carry a maturity period of three years and feature a coupon rate of Secured Overnight Financing Rate (SOFR) plus 100 basis points (bps) per annum, payable quarterly in arrears.
A Floating Rate Note (FRN) is a unique debt instrument where the interest rate adjusts periodically in response to benchmark rate movements, which in this case is the US benchmark SOFR.
Significance: This fundraising highlights SBI's strong credit profile in international markets and its ability to utilize global benchmarks like SOFR for competitive pricing.
Key Facts / Static GK
State Bank of India HQ: Mumbai
Practice Quiz — 1 July 2026
Q1. What is the new revised fee for a standard 36-page adult passport under the Normal application category, effective from July 1, 2026?
Q2. Which automotive aftermarket manufacturer, a division of Tenneco, has appointed Mahendra Singh Dhoni as its National Brand Ambassador?
Q3. What is the coupon rate and maturity period of the Senior Unsecured Floating Rate Notes (FRNs) recently issued by SBI's London Branch?
Q4. Consider the following statements regarding the launch of UPI in Greece: 1. The service was launched through a partnership between NIPL and Eurobank. 2. Greece has become the 10th country to accept UPI in some format. Which of the statements given above is/are correct?
Q5. What is the minimum Fixed Deposit (FD) amount required to open the newly launched 'Paisa+' Secured Credit Card by Paisabazaar and SBM Bank India?
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