State Bank of India has concluded the issuance of USD 300 Mio Senior Unsecured Floating Rate Notes, strengthening its foreign currency funding portfolio. The notes carry a maturity of 3 Years and offer a coupon of SOFR + 100 bps per annum, payable quarterly in arrears. This issuance was executed under Regulation-S, targeting international investors.

The bonds are being issued through the bank's London branch, with the issuance date set as July 6, 2026. The floating rate nature of the notes aligns the interest payments with the Secured Overnight Financing Rate (SOFR), providing a hedge against fluctuating interest rate environments.

Key Details of the Issuance

The disclosure was submitted to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Aruna N Dak, DGM (Compliance & Company Secretary), confirmed the completion of the issuance process on behalf of state bank of india .

State Bank of India has appointed Shri Sandeep Natwarlal Shah, Dr. Sandhya Shekhar, Shri K.R. Ashok, and Shri Khurshed Rustom Dordi as directors on its Central Board effective June 26, 2026. These shareholder directors were elected under Section 19(c) of the State Bank of India Act, 1955, filling vacancies created by the conclusion of the previous directors' terms. The new appointees will serve a three-year tenure ending on June 25, 2029.

The appointments were disclosed to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank confirmed that the elected directors are not debarred from holding the office of director by virtue of any SEBI order or any other authority, and there are no reported relationships between the directors.

Profiles of Appointed Directors

The new appointees bring extensive experience across finance, insurance, technology, and global banking.

Shri Sandeep Natwarlal Shah has contributed significantly to the Institute of Chartered Accountants of India (ICAI) and served on SEBI committees for operational guidelines using Distributed Ledger Technology. Dr. Sandhya Shekhar, a recipient of the Distinguished Alumni Award from IIM Bangalore, has advised on digital strategy for large banks and served on the IT Advisory Council for state bank of india .

Shri K.R. Ashok brings deep actuarial expertise from his tenure at LIC of India, including implementing Solvency II in the UK and leading actuarial systems post-IPO. Shri Khurshed Rustom Dordi offers over three decades of international experience, having held leadership roles at Deutsche Bank across India, Asia-Pacific, Europe, and the Americas.