SBI Receives Final Tranche of $150M Treasury Bill Facility from India
1 report, 1 independent
Updated Sep 20
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What happened
India's external affairs ministry confirmed the final tranche of a US$150 million treasury bill facility subscribed by the State Bank of India was settled on September 17. The principal was repaid by Maldives, while India covered all interest payments, which totaled close to US$45 million over five years. The bills had been extended six times before they were fully settled.
Why it matters
The transaction involved the use of the INR30 billion currency swap facility extended by India. Additionally, SBI currently holds US$350 million in treasury bonds that are valid until 2029 and 2030.
Who's involved
- State Bank of IndiaIndian public sector bank that received the financial facilities
- MaldivesSovereign state that repaid the principal on the treasury bills
- IndiaCountry whose financial support was utilized in the transaction
Keep exploring
The entities involved
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State Bank of India
Indian public sector bank and financial services organization
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Maldives
sovereign state in South Asia, situated on an archipelago in the Arabian Sea
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