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SBI's $1.25 Billion Loan: India's Largest Loan of 2024

The Indian financial sector has secured a $1.25 billion loan from Gujarat International Finance Tec-City, marking the first major dollar loan from the sector in 2024.

Loan Specification Details

Total loan amount: $1.25 billion
Duration: Five years
Interest margin: 92.5 basis points over SOFR
Arranged by: CTBC Bank, HSBC, Taipei Fubon Bank
Location: Gujarat International Finance Tec-City
Purpose: General corporate requirements
First major dollar loan from Indian financial sector in 2024

Borrowing Landscape

India's dollar loan volume dropped 27% to $14.2 billion
Decline attributed to lack of large corporate borrowings
Other financial institutions also seeking foreign currency loans:
- Cholamandalam Investment: $300 million syndicated loan
- Union Bank of India: A$125 million three-year loan
- Bank of Baroda: $750 million borrowing
Non-banking finance companies leading foreign currency debt raising
Stricter domestic regulations driving international borrowing

Strategic Context

SBI's previous international loan: $750 million in July
Part of broader trend of Indian financial institutions seeking global funding
Demonstrates adaptability in challenging financial environment
Indicates strategic approach to managing corporate financial needs
Reflects global financial market interconnectedness
Highlights India's growing financial sophistication

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SBI's $1.25 Billion Loan: India's Largest Loan of 2024

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