SBI issue Formosa Bonds
SBI became the first Indian bank to issue Formosa bonds and it has raised $300 million.
- The bond was sold through the London branch of the SBI.
- The bonds will be listed in Taipei , Singapore stock exchange and also at the India International Exchange at Gift City in Gujarat.
- The bonds are of five year duration and its interest rate has been linked with the US Treasury benchmark.
- It is issued by a non Taiwanese company in Taiwan.
- The bond is denominated in currencies other than the Taiwan dollar.
- The currency of Taiwan is Taiwan Dollar.
- The bond is listed on the Taiwan stock exchange.
- Taiwan was earlier called Formosa and Taipei is its capital.
For benchmarking and US Treasury benchmark see the 7 January 2022 post
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