State Bank of India to raise Rs 5,000 crore via long-term bonds

State owned banking major State Bank of India (SBI) is planning to raise Rs 5,000 crore through issuance of long-term bonds in domestic and overseas markets to finance infrastructure and affordable housing in the current fiscal.

"A meeting of executive committee of the central board of the bank is scheduled to be held on November 10, 2016, inter alia, to examine and decide for issuance of long-term bonds of Rs 5,000 crore in domestic and overseas markets for financing of infrastructure and affordable housing (Infra Bonds) during financial year 2017 on private placement in tranches at appropriate time," SBI said in a BSE filing.

Shares of SBI were trading 0.28 per cent lower at Rs 252 on BSE.