2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$ 250 million
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$ 100 million
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$ 500 million
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$ 150 million
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Detailed explanation-1: -SBI raises $500 million through three-year syndicated loan at fine pricing.
Detailed explanation-2: -The country’s largest lender State Bank of India (SBI) on Monday said it has raised USD 500 million (over Rs 3,800 crore) through its IFSC Gift City branch. This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch, a release said.
Detailed explanation-3: -A syndicated loan is a loan extended by a group of financial institutions (a loan syndicate) to a single borrower. Syndicates often include both banks and non-bank financial institutions, such as collateralized loan obligation structures (CLOs), insurance companies, pension funds, or mutual funds.
Detailed explanation-4: -There are four main types of syndicated loan facilities: a revolving credit; a term loan; an L/C; and an acquisition or equipment line (a delayed-draw term loan).
Detailed explanation-5: -The 5 main types of SBI personal loan products include: SBI Xpress Credit Personal Loan, SBI Pension Loan, SBI Xpress Bandhan Loan, SBI Pre-approved Loans, and SBI Quick Personal Loan.