SBI raises USD 1 billion untied loan with JBIC, other lenders

The State Bank of India signed a loan agreement amounting to up to one billion US Dollars with the Japan Bank for International Cooperation, a company statement said in Mumbai yesterday. The loan is intended to promote the smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India. As part of the agreement, 600 million US Dollars will be financed by JBIC while the
remaining amount will be financed by other participating banks. The facility will be cofinanced by SMBC, MUFG Bank, Mizuho Bank, Shizuoka Bank and Bank of Yokahama.